Ripple CEO Claims 'Truth' Is Out After Opening of 2012 Legal Documents: Details

The first memo was written in February 2012 and sent to Jed McCaleb and Jesse Powell, while the second was issued in October 2012 and sent to Chris Larsen and Jed McCaleb.

The first memo stated that if NewCoin is offered in what appears to be an ICO, it will most likely be classified as a security. Ripple altered its business plan and returned to Perkins Coie, prompting the second memo. The second memo, more positive than the previous, stated that there was a"small" risk that the SEC would disagree.

Perkins Coie, on the other hand, concluded that Ripple Credits should not be classified as securities. Ripple could take action to reduce the possibility of the SEC disagreeing with Perkins Coie, according to the document. James K. Filan argues, ''There is certainly nothing in these memos that suggests that Ripple was being reckless or ignored any substantial risks.'' Filan feels that the unsealing of the memos is, overall, favorable to Ripple and the individual defendants.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ripple Believes Two 2012 Memos Will Bolster Its Case Against SECRipple’s Stuart Alderoty believes that the unsealing of legal memos from 2012 will exonerate the defendants TAIGxrp If the judge forces them to release the docs they will say they were 'forced' to pull the case because the jdge was setting a wrg precedent that endngred their abilities to regulate in the fut. If the judge agrees they have good precedent to hide all their drty laundry in futr That read up is a bit far fetched at the end saying Ripples case is fragile!
Source: Utoday_en - 🏆 295. / 63 Read more »