A surprise filing adds complexity to the Ripple vs. SEC case ahead of the June 16 deadline.
Unexpected filing challenges the Howey Test, questioning its 90-year-old interpretation.
XRP price falls to its lowest since May 8 as the Ripple-SEC case continues with no resolution.
A surprising new twist has emerged in the Ripple vs. SEC case with an unexpected court filing. At this crucial time, just before the June 16 deadline, a surprise filing was submitted by a third party. Adding the filing has increased the complexity of a case that some believed was becoming stagnant.
Bill Morgan, a lawyer supporting cryptocurrency, had predicted a further development in the case, especially after the last motion was dismissed two weeks earlier. Still, he did not anticipate that the filing would be made in this way. The third party’s filings argue that the Howey Test should be reconsidered because it plays a major role in defining an investment contract. The complaint discusses how courts over the past 90 years have addressed the question of “investment contract” under the Howey Test.
https://x.com/Belisarius2020/status/1928236223958765840
Surprise Filing Raises New …
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