Ripple new filing dismantles SEC argument
Deaton highlighted a section of Ripple's argument, particularly a footnote, that indicated that the SEC had always maintained the same view that whether a given digital asset meets the Howey test at the time of its offer or sale relies on specific facts or circumstances. He says this particular fact destroys the SEC's argument on an interlocutory appeal.Deaton also stated that he believes Judge Torres will deny the interlocutory appeal.
Ripple also indicated it will cross-appeal on the statutory interpretation issue of the scope of the term investment contract and the need for rights to be granted to the buyer or obligations imposed on the seller.
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