In a recent Twitter exchange between prominent lawyer Bill Morgan and financial journalist Charles Gasparino, Morgan expressed his displeasure with Gasparino’s comments regarding the legal status of XRP, the digital asset associated with the blockchain company Ripple.
Ripple’s “Win” a Joke, SEC Will Appeal, Says Charles Gasparino
Charles Gasparino, a senior correspondent at the Fox Business Network, expressed his opinion on Twitter that Ripple did not win in the ongoing lawsuit with the Securities and Exchange Commission (SEC).
Instead, he stated that XRP holders, particularly retail investors, “won” for the time being due to Judge Sarah Netburn’s decision to deny the SEC’s motion to strike Ripple’s fair notice defense. Gasparino called the ruling “idiotic” and “the laugh of the southern district.” This indicates that Gasparino believes the ruling was poorly reasoned and may not hold up in future legal proceedings.
Bill Morgan Slams Charles Gasparino Over XRP Tweet
Bill Morgan responded to a critical comment made by Charles Gasparino. Gasparino had claimed that the decision was a “split” and that it was not a “good result” for Ripple. However, Morgan strongly disagreed with Gasparino’s assessment, stating that “there is no lawyer who thinks it was not a good result for Ripple.” Morgan further explained that the judge in the case, Analisa Torres, distinguished the XRP token from the underlying scheme, transaction, or contract and found that it was not a security.
Based on the Twitter exchange between Bill Morgan and Charles Gasparino, it can be concluded that there is a difference in opinion regarding the legal status of XRP in the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). This exchange highlights the ongoing debate and uncertainty surrounding the classification of digital assets as securities under U.S. law.
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