When the US Securities and Exchange Commission sued Ripple Labs and its executives in December, claiming that the XRP coin was in fact a security, and that the company raised over $ 1.38 billion by offering unlisted securities in 2013, many wondered what about XRP survives.

Writing off some XRP exchanges; Some asset managers have sold their XRP tokens. XRP lost its position as the third largest coin by market value, and it looked like it could fall out of the top 10, but reports of Ripple’s death were strikingly overestimated.

Since mid-April, the XRP has increased by 532% in the last 12 months, and cases have also taken a positive turn in the SEC lawsuit in the past, with defendants dominating my decisions on disclosure – even turning tables over to the regulatory agency by to access. … Internal Securities and Exchange Commission Notes and cryptodiscussion records “The Securities and Exchange Commission is currently in an experiment – and it knows it,” Forbes told Forbes.

But the lawsuit is ongoing – in fact, it is being closely monitored and could set legal precedents in a number of areas, Daniel Payne, financial technology and blockchain practice partner at law firm Murphy & McGonigle, told Cointelegraph, including:

“Application of a limitation period for token sales; extraterritorial access to securities laws for the sale of tokens on blockchains worldwide; application of securities laws to digital assets organized by FinCEN as virtual currency [e.g. BTC]; and whether the courts will use bitcoin and ether as models for digital security assets in their legal analysis. ”
So even though the defendants used the SEC’s lawsuits against Ripple Labs, is it really possible to say that Ripple’s legal issues are behind us?

It’s not over until you’re done
Carol Goforth, professor of law at Clayton University, said “Little of the University of Arkansas (Fayetteville)” for Cointelegraph: “Not far.” Ripple presented a good case for gaining access to the SEC’s internal view of cryptocurrencies, ie the first discovery order. And in the second competition:

[Ripple executives] Garlinghouse and Larsen reasonably argued that the SEC exaggerated its eight-year request based on their personal bank records. Why does the SEC need to know the family’s expenses to prove it’s right? ”
“While Ripple may find information that will help protect itself as a result of this ‘victory,'” Goforth said, “it is unclear how important this is in the long run.” My statements to resolve the case before the trial changed the rules of the game in the case, “Payne added.” The defendants took up steam with some important arguments, but that does not mean they won the case. ”

David Chase, a former securities and law enforcement attorney at the Securities and Exchange Commission, agrees that “it would be very premature to know any implications of this temporary order.” He told the Cointelegraph that these are in fact investigative skirmishes, not the core of the problem.

‘Another situation’
A recent article in The National Law Review regarding the SEC versus Ripple Labs noted that “the SEC case is based on the assumption that XRP is a guarantee – if not, the SEC has no jurisdiction.” While Payne told the Cointelegraph, “There are several district court rulings stating that certain digital assets are securities: Telegram, Kik, ATBCoin, etc.” These cases set important precedents that the SEC now relies on to track new token releases. What do you think this is an offer of securities. Pine continued:

But Ripple is a completely different matter. XRP was first traded over eight years ago, and during that time the XRP ledger has been decentralized while Ripple has largely split from XRP. But the SEC claims the XRP was and still is a guarantee. ”
John Wagster, Frost Brown Todd’s lawyer, told the Cointelegraph that the allegations against Ripple, like almost all SEC actions in the cryptocurrency area, will be analyzed by market participants looking for a way to offer compatible tokens, adding: “Healthy market. This requires regulatory consistency, and the most meaningful result of Ripple’s enforcement action will be one that provides a clear path for future releases. ”

“The Ripple case is very important,” Julia Josefa, a law professor at Rutgers College of Law, told the Cointelegraph. Although this is similar to the Kik and Telegram cases, the facts in the SEC v Ripple Labs case are different. “Ripple’s results could have a profound impact on the cryptocurrency market. First, the final decision should provide more clarity for developers and the crypto community.”