Bill Morgan Debunks Viral Rumors On Ripple vs SEC Case

The   vs SEC legal battles continues with various rumors, speculations, and uncertainties on this matter. Previously, it was expected that the case would finally be settled in July this year, which also marks the anniversary of the previous ruling when XRP was recognized as a non-security. However, that failed to materialize and the market sentiments have rather turned negative regarding the imminent closure of the case. 

Bill Morgan Comes Forward To Debunk Speculations

Notably, Bill Morgan, a prominent XRP enthusiast and lawyer has come forward to debunk the speculations and myths around the case. He recently took to X and started the post by stating, “Time to call out more incorrect information about the SEC v Ripple case.” In the post, he responded to a post by @trump45coin. 

He highlighted that the second bullet point in the post was wrong, which stated ‘XRP is about to be the only crypto with regulatory clarity’. He stressed that the XRP token already has case decided legal clarity. According to Morgan, courts do not give regulatory clarity. He also added that whatever the judge finds on remedies, sales of XRP can still be investment contracts.

Further, he added “As to the third bullet point, there may very well be a SEC (and Ripple) appeal. It is a matter of contention and debate whether the SEC’s prospects are strong or weak.”

Also Read: Will Ripple-backed XRP Hit 50 or 70 Cents Next? Details

Donald Trump’s Promises To End The Anti-Crypto Period!

The SEC’s lawsuit against Ripple awaits a final ruling by Judge Analisa Torres. Notably, at the Bitcoin conference, Donald Trump said that the SEC Chair gary gensler gary gensler Gary Gensler is the chairman of the U.S. Securities and Exchange Commission (SEC). His studies in finance and blockchain at MIT have helped him develop U.S. cryptocurrency regulations and policies. Quick Facts Full name Gary Scott Gensler Birth 18-10-1957, Baltimore, Maryland, United States Nationality American Education MBA from the University of Pennsylvania Marital status Married to Francesca Danieli (1986-2006) Net worth Estimated $100 million   Gensler has advocated for enhanced supervision of digital assets, seeking to regulate cryptocurrencies similar to securities. His work at the SEC has focused on safeguarding investors, regulating crypto exchanges, and establishing stablecoin policies.   Gary Gensler - Career Highlights 1997 – Became Assistant Secretary of the Treasury. 2009 – Led CFTC, regulating financial derivatives post-2008 crisis. 2018 – Taught blockchain and crypto at MIT. 2021 – Appointed SEC Chairman, focusing on crypto regulations. 2022 – Proposed stricter rules for crypto exchanges. 2023 – Took legal action against major crypto firms. 2024 – Advocated for stronger stablecoin and DeFi regulations.   Gary has collaborated with multiple lawmakers in formulating crypto policies. Even with disagreements with crypto investors regarding crypto policies, he continues to be a key player in the changing dynamic between regulatory frameworks and blockchain advancement.   Awards & Recognitions of Gary Gensler Year Institution  Description 2009 U.S. Treasury Financial Regulation Leader 2018 MIT Blockchain & Crypto Educator 2021 SEC SEC Chairman Overseeing Crypto Policies 2023 Bloomberg Most Influential Regulator in Crypto 2024 Forbes Top Policy Maker in Digital Assets   Useful Links to Connect With Gary Gensler Platform Link X (formerly Twitter) twitter.com/GaryGensler CFTC website Chairman Gary Gensler   Chairman would be fired ‘on day one’ if he is elected the President of the United States. Trump promised the attendees a new SEC Chair and an end to the anti-crypto stance of the Biden-Harris government. Trump’s win in the November elections could therefore influence the Ripple lawsuit. 

Ripple executive Brad Garlinghouse has slammed the SEC and Chair Gensler for their “regulation by enforcement” approach and a “lack of clarity on crypto regulation” in interviews, on several occasions.