Hello this is Matt on the moon family Sedan Channel got a couple legal related Stories to share with you in this latest Tepid Jam I'll be starting with this one From the crypto basic top us lawyer says He doesn't see judge Torres buying one Of Ripple's arguments and they're Speaking about none other than Attorney John Deaton pictured here on your screen And attorney Deaton's Articulating why he believes that There's a particular argument ripples Made that he thinks the the judge judge Torres here just isn't going to buy but Even so he does believe that should this Case get to the Supreme Court level Which I think we all hope doesn't happen We'd love to have this all completely Ended forever uh much sooner than that But if it does get to that level uh he Does think that the Supreme Court will Buy the argument he just doesn't think That judge Torres specifically will and Then there's also this headline also From the crypto basic SEC reviewing its Communication with JP Morgan about Ripple There you go SEC communicating with JP Morgan about to Ripple and this is Something that's been going on for some Time but um I haven't had an update on this story For I don't even know many many months But before going further I'd even be
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Clear I do not have a legal or financial Background of any kind I am not offering Legal or financial advice and you Definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so into this First story and uh attorney Deaton Sharing his expectations and believes Having to do with the he thinks will not Be the case perhaps anyway uh Ripple Specifically losing on this argument on A specific argument which by the way Just be clear at the outset of this Video doesn't mean that he's changed his Stance in terms of you know whether or Not Ripple wins that actually that the Overall picture that still hasn't Changed and if you're talking about an Outright win he still thinks that's way More probable uh with with ripple if It's going to happen at all but not not With the SEC frankly Anyway peace reads his files Deaton Thinks judge Torres will not accept one Of Ripple's arguments but he still Thinks the company will win the lawsuit As the crypto Community continues to Anticipate Ripple versus sec's summary Judgment crypto law founder Attorney John Deaton has identified one of the Company's arguments that may not appeal
To the judge in a podcast with thinking Crypto In Ripple's summary judgment motion the Company argued that if the sec's case Theory is granted the court will Indirectly accept that there can be an Investment contract without a contract So I was paused to note when we finally Saw in the later part of 2022 Ripple's Motion for summary judgment their final Real argument here's what we got Um that that's when we first found out To my recollection anyway is that that's When we first saw that uh you know the Big guns for them are effectively Arguing uh folks we don't even need to Talk about the Howie test first because Without you know in an investment and Without a contract there's no investment Contract So unless you're going to show that There's an investment contract we don't Even need to talk about the Howie test And that was for them the the primary Argument that's that's what's driving The case to this point which I don't Recall seeing anybody in our community Guess would have would have been the Case but it is and it has to do with Case precedent and I've talked about it Ad nauseam so not to go into in this Video in any sort of Greater detail But that's directionally where things Went
So you know the question becomes Ultimately Is Judge Torres going to find that Compelling And then additionally if not what does That mean in case there are appeals well Again attorney Deaton's hadn't been shy About saying you know when it gets in These arguments get to the Supreme Court Probably still going to look pretty good But that's why the the article said here Though the court will indirectly accept That there can be an investment contract Without a contract so should such a Scenario unfold you Peace continues commenting on the case Attorney Deaton said the argument by Ripple is only stronger in the second Circuit than in the first Fifth and Ninth circuits the crypto law founder Noted That other courts outside the second Circuit had found an investment contract Without and underline one Um and so that's why it's it's so Interesting you know for most of us Including me because most of us we don't Have any sort of legal background and so It's just so interesting to see that From one circuit to the next there are Entirely different precedents here and So understanding where all this is Unfolding well that's the reason that Ripple argued what they argued you know
In a separate circuit where it had been Found that there were investment Contracts without an underlying contract Presumably that would have impacted Ripple's approach right But that's not the case here which is Very good for a ripple and I think for Xrp holders ultimately peace continues He pointed out that some judges have Found an investment contract from excuse Me from a company's brochure to Investors that made promises it Bears Mentioning that the leading Silicon Valley blockchain company sent a Brochure to about 100 potential Investors in 2014. according to attorney Deaton judge Torres could find Ripple's Approach as an offering although Ripple Argued that the transaction did not Constitute an investment contract as There was no underlying contract And asserted that judge Torres might not Buy the argument He however thinks the Supreme Court will Accept the argument and by the way I Will just say this and judge towards I Get it she's wealth in her rights to Rule either way on that it's her Decision but it would kind of burn my Biscuits just a little tiny baby boo bit If she does rule in that direction Given it's the case that the SEC Never cited specific transactions that They found as as being illegal they just
Said everything is so if they get to say Everything is and then judge Torres Finds this very narrow sliver to have Been something that's illegal Okay Anyway here's a here's a quote from Maternity Ripple's argument is that that Is not enough because there is no Underlying contract I don't see judge Torres buying that Argument although I see the Supreme Court accepting it end quote Despite commending the argument he Believes judge Torres will not accept it Just like the other judges at her level Had done in the past quote I think They're going to lose that argument with Her I hope I'm wrong end quote attorney Deaton thinks judge torres's summary Judgment will favor Ripple Deaton Explained that Ripple would win the Lawsuit because the sec's theory is too Broad and here's another quote from Maternity Deaton So if I had to pick one winner if you Said who's going to win an outright win SEC or Ripple I would pick Ripple Unopposed A lot of people don't agree with me but I pick Ripple because the sec's theory Is too over broad end quote And so I'm certainly still optimistic And I think that attorney Deaton's Analysis regarding that particular
Aspect of how things manifold I think That makes a ton of sense Uh I don't feel 100 about anything but I I think the thing that directionally the Way he's looking at this I think it Makes a ton of sense and that's what to Me frankly at this point in time seems The most probable so I'm certainly very Optimistic for how this thing's Ultimately gonna unfold and we're going To know very soon It's already April this thing is not Going to go undecided forever there will Be a day we wake up and the news is just There And then there's this from the crypto Basic SEC reviewing its communication With JP Morgan about Ripple Oh yes and so again this will be an Update because I I was covering the Story just there hadn't been any Developments and I don't even remember How long because all the days blur Together at this point but months at Least but anyway Ashley Prosper an xrp Community member who filed a Freedom of Information Act our foia that's foia for A request last year demanding Communications between SEC and JP Morgan Involving Ripple has updated xrp Enthusiasts about recent progress In a recent tweet Prosper said the SEC Had received the search results and is Currently reviewing the documents
However the Securities regulator noted That a large number of the documents Required confidential treatment quote Based on our initial review of the Record it appears that a large portion Of the records will require we engage in The CT substantiation process which Involves records for which confidential Treatment was requested at the time of Their submission end quote so that was An excerpt from the email sent to Ashley Peace continues the the Securities and Exchange Commission add that it will Require an additional 60 days to the Review time in order to engage in quote This type of consultation end quote uh So par for the course Delay delay slow slow slow slow slow That's all we saw in the SEC V Ripple Case that's just how they roll because What the hell what what the hell does it Matter to them how long all this takes You know if you're the cons if you're if You're like you know just one of us outs Out and out in the wild is a citizen in The United States uh seeking for the Transparency which is legally required Frankly you know well if they're the Ones that have to send out what the hell Do they care now if you're on the flip Side of that and you want to make sure That hey because look for you foia Exists for a reason It is to provide confidence in the
System in general And so if you're on the receiving side Of the slowness of all this delay All that's going to do is add more Concern in question and then similarly When SEC is going after businesses what The hell do they care there if it takes Forever because then it's just the Business that's languishing and in Theory you know being financially harmed As a result of this as would be the case In most instances including what's Happening with ripple obviously what the Hell is the SEC care which is why the Whole approach is disgusting but it is What it is Peace continues it is noteworthy that Prosper filed the foia request in August 2022 seeking disclosure of any Communications between the SEC and JP Morgan about Ripple like several xrp Community members Prosper alleges that Some private companies influence the Sec's decision to go after Ripple in December 2020. Prosper filed the foia Request because believes the ongoing Ripple lawsuit started with Communications between JP Morgan and the SEC however all efforts to have the SEC Release the documents have yielded no Positive results in March Prosper Notified members of the xrp community That the SEC postponed the release of The document to the end of March
So this has been going on for some time Here and we'll see what ultimately Happens You know in terms of anything any sort Of ulterior motives I appreciate that People are looking into it I don't know I'll believe it when I see it uh Look it's I don't want to get in the Whole Charles hoskinson Grand conspiracy Thing again I actually legitimately do Not want to talk about that right now But uh If there is anything to this again I Love that people are looking into this And I do very genuinely mean that but uh You know if there really was some sort Of effort to just squash Ripple uh I Will believe it when I see it I just Need the evidence that's it that's all I'm saying on that that's really all I'm Saying on that and since we don't know And everything does like there's all Sorts of things that look peculiar I Just appreciate the efforts people Actually doing stuff here So I'll keep you apprised of any Developments that continue Um to unfold here and there will be Something at some point even if it's not Any sort of news of something breaking Uh you know and that way Something's going to come on down and I'll be happy to share with you at that Point in time exactly what it is
I'm not a financial advisor you should Not buy or sell anything because of Anything I say right that would be a Very very very bad idea until next time To the Moon family sedan
