Attorney Bill Morgan and SEC specialist Marc Fagel unveil hidden drive behind XRP case appeal, changing game for crypto regulation
Morgan's commentary was prompted by a mention of the SEC's ongoing case against Ripple in the codefendants' legal memorandum filed in support of Binance's motion to dismiss the SEC's complaint.
These codefendants, represented by BAM, Binance's partners, appear to be leveraging Judge Torres' previous opinion concerning transactions on secondary exchanges. Recall that, in SEC v. Ripple, the court ruled that secondary sales of Extract referring to the Ripple case. The BAM defendants seek to rely on the finding of Judge Torres in respect of blind/bid type transactions on secondary exchanges.
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