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Judge Denies Terra and Do Kwon’s Motion to Dismiss SEC Lawsuit US SEC lawsuit against Terraform Labs (TFL) and Do Kwon to proceed and Torres ruling doesn’t count as precedent, according to an order by Judge Jed Rakoff of District Court for the Southern District of New York (SDNY). advertisement Judge Rakoff denied Terra’s motion to dismiss the lawsuit stating that the SEC has sufficiently argued it has jurisdiction and “asserted a plausible claim” that TerraUSD (UST), the Anchor Protocol, and LUNA may have violated securities laws. “The Court declines to draw a distinction between these coins based on their manner of sale, such that coins sold directly to institutional investors are considered securities and those sold through secondary market transactions to retail investors are not. In doing so, the Court rejects the approach recently adopted by another judge of this District in a similar case, SEC v. Ripple Labs.” Rea...

Also Read: Ripple CEO Warns “Confusing Laws” Will Push Crypto Firms To Leave US advertisement Why Didn’t US SEC Appeal? As per reports, U.S. SEC had the option to file an interlocutory appeal against the decision. While the commission had 10 days to file a reconsideration in the matter. Attorney John Deaton, amicus curiae in the XRP lawsuit gave out reasons over Why didn’t the U.S. SEC file an appeal. He highlighted that the commission could have submitted a Writ of Mandamus but it would be failed. He added that even if the judge allowed them to file an interlocutory appeal on the documents, it would also fail. He mentioned that the 2nd circuit court of Appeals would not overturn its decision that the email linked to the Hinman speech is not shielded by the attorney client or Deliberative process privilege. Read More XRP News Here… Recommended Articles ...

Also Read: Ripple Win Will Drag US SEC To Settle, Hints XRP Lawyer advertisement Coinbase To Relist XRP? Paul Grewal, Chief Legal Officer at Coinbase in a recent post mentioned a meeting with Stuart Alderoty, Ripple ’s Chief Legal Officer. He stated that they should have such meetings more often ahead. However, to this Alderoty replied that they appreciate the time they gave to talk with Ripple ’s legal team. The meeting between the two giants comes in when both of them are seeking a regulatory green flag from the US SEC. However, Coinbase, US biggest crypto exchange went international as its queries for clear rules remains pending. On the other hand, Ripple Labs and its executives are waiting for a summary judgment in the long running lawsuit with SEC. Read More XRP News Here… Also Read: Cathie Wood’s Ark Goes Long On $COIN As Coinbase Moves Offshore Trending Stories MATIC Price Pre...