Ripple vs. SEC: Former SEC Lawyer Says There Won’t Be Monetary Recovery for Early XRP Investors
Former SEC attorney asserts that there won’t be monetary recovery if Judge Torres rules that XRP sales between 2012 and 2015 are securities. As the lawsuit between Ripple and the SEC approaches its end, crypto community members and legal experts, have been discussing the possible outcome of the case. In a tweet yesterday, a former SEC lawyer Marc Fagel disclosed that there won’t be monetary recovery if Judge Torres rules that early XRP sales from 2012 to 2015 are SEC urities. Fagel made this known after an XRP community member raised a question regarding a recent Unchained Podcast interview with Jason Gottlieb, a partner at Morrison Cohen. In the interview, Gottlieb said the SEC cannot charge Ethereum founders with offering unregistered security due to a five-year statute of limitations in place. According to Gottlieb, Ethereum was issued before five years ago, which makes it difficult for the SEC to make a move against the cryptocurrency. It was the question to Ga...