{"id":39300,"date":"2021-03-21T16:06:27","date_gmt":"2021-03-21T14:06:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39300"},"modified":"2025-08-30T08:53:47","modified_gmt":"2025-08-30T05:53:47","slug":"sec-exchanges-are-not-violating-rules-by-listing-xrp","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-exchanges-are-not-violating-rules-by-listing-xrp\/","title":{"rendered":"SEC: Exchanges are not violating rules by listing XRP"},"content":{"rendered":"<p>Aside from Ripple and its employees, no investors, exchanges or other platforms violate the Securities and Exchange Commission (SEC) guidance by selling XRP tokens. This was stated by the regulator&#8217;s lawyer in court, according to attorney Jeremy Hogan. <!--more--><\/p>\n<p>He called this statement one of the &#8216;bombshell surprises&#8217; during the hearings.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">As promised, stayed up late to shoot the video on today\u2019s bombshell dropping discovery hearing. Enjoy and I am going to sleep! <a href=\"https:\/\/t.co\/CcEQoM0TKe\">https:\/\/t.co\/CcEQoM0TKe<\/a><\/p>\n<p>\u2014 Jeremy Hogan (@attorneyjeremy) <a href=\"https:\/\/twitter.com\/attorneyjeremy\/status\/1373167885917548544?ref_src=twsrc%5Etfw\">March 20, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Magistrate Judge Sara Netburn asked the Commission&#8217;s representative whether everyone who sold the tokens violated the law.<\/p>\n<blockquote>\n<p>&#8216;No, under Section 4 only Ripple and its affiliates may illegally sell XRP&#8217;, Hogan quoted the response.<\/p>\n<\/blockquote>\n<p>In his view, the SEC attorney&#8217;s statement opens the possibility for platforms that had previously suspended trading of the asset to resume supporting it.<\/p>\n<p>The second key moment of the hearing, Hogan said, was the judge&#8217;s view that, in her understanding, XRP is not only a monetary unit but differs from Bitcoin and Ethereum in having &#8216;utility&#8217;.<\/p>\n<p>SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-ripple\">filed a lawsuit against Ripple<\/a> in December 2020. The regulator accused the company, its CEO Brad Garlinghouse, and co-founder Chris Larsen of the unregistered sale of securities totaling $1.3 billion in XRP.<\/p>\n<p>In February the Commission filed <a href=\"https:\/\/u1f987.com\/en\/news\/sec-clarifies-brad-garlinghouses-liability-in-ripple-lawsuit\">an amended version of the complaint<\/a>, placing the main emphasis on Larsen&#8217;s and Garlinghouse&#8217;s actions. The SEC contends that they manipulated the asset&#8217;s price and personally benefited from sales of $600 million.<\/p>\n<p>Earlier the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-seeks-ripple-executives-personal-financial-information\">requested data from six banks<\/a> on the personal financial transactions of the company&#8217;s executives over the last eight years.<\/p>\n<p>As reported, after Ripple faced allegations by the SEC, XRP trading for US residents was halted by platforms <a href=\"https:\/\/u1f987.com\/en\/news\/galaxy-digital-halts-support-for-ripple-token-amid-sec-lawsuit\">Galaxy Digital<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/bitstamp-halts-xrp-trading-for-us-customers-as-token-price-resumes-decline\">Bitstamp<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/otc-platform-b2c2-halts-xrp-trading-for-u-s-residents\">B2C2<\/a>, as well as exchanges <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-and-okcoin-halt-xrp-trading-amid-sec-lawsuit\">Coinbase and OKCoin<\/a>. A similar move was taken by trading venues Kraken and <a href=\"https:\/\/u1f987.com\/en\/news\/paybito-halts-xrp-trading-amid-sec-lawsuit-against-ripple\">PayBito<\/a>.<\/p>\n<p>Follow Forklog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aside from Ripple and its employees, no investors, exchanges or other platforms violate the SEC guidance by selling XRP tokens. This was stated by the regulator&#8217;s lawyer in court, according to attorney Jeremy Hogan.<\/p>\n","protected":false},"author":1,"featured_media":39301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,112,128],"class_list":["post-39300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=39300"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39300\/revisions"}],"predecessor-version":[{"id":39302,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/39300\/revisions\/39302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/39301"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=39300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=39300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=39300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}