Ripple lawyers' advice on digital tokens is about to be unsealed in key SEC case XRPCommunity
The description of the advice Ripple received from its outside counsel in 2012 memos may soon be made public, thanks to a recent judgment by U.S. District Judge Analisa Torres of Manhattan. Ripple requested legal advice from an unnamed global law firm in 2012 as it considered launching a new digital coin. Ripple also received two documents from the law firm that looked at the legal concerns that could arise as a result of the launch.
The legal advice contained in the two memos, according to Torres, must be unsealed and made public by Feb. 17. In an email statement, Ripple general counsel Stuart Alderoty said that when the documents are released, they"will show that in 2012 Ripple received a legal analysis that XRP was not an investment contract or security."
Some analysts believe that recent developments in the Ripple v. SEC litigation might suggest that the case may be resolved shortly, which might lead to a further surge in the
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