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SEC’s Enterprise Claim Against Ripple Doesn’t Hold
In the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC), new evidence has emerged that challenges the SEC’s claim of Ripple acting as a “common enterprise” in the development of XRP. Pro XRP attorney John Deaton recently discovered a developer of the XRPLedger who had received no financial assistance from Ripple. This finding could potentially strengthen Ripple’s defense against the SEC’s allegations. Additionally, former developer Jaskaran Kambo filed an amicus brief in support of Ripple, further bolstering the company’s case. These developments have significant implications for XRP holders and Ripple’s long-term prospects.
The Discovery of a Non-Funded XRPLedger Developer
John Deaton, a prominent XRP advocate and founder of Crypto-Law US, has uncovered a crucial piece of evidence that may prove instrumental in Ripple’s legal defense. Deaton identified Jaskaran Kambo, the founder and CEO of cryptocurrency payment app SpendTheBits (STB), as a developer of the XRPLedger who allegedly did not have any formal contract or financial arrangement with Ripple.
This discovery holds immense significance as it challenges the SEC’s central claim that Ripple and XRP operated as a “common enterprise.” The absence of any financial assistance or…
