NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

It Will Take Another Year to Know If Ripple’s XRP is a Security or Not

Davit Babayan
Davit Babayan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It will take more than a year to understand whether or not Ripple’s XRP is a securities asset, according to Jake Chervinsky.

The dispute and investigation lawyer, associated with a global law firm Kober & Kim, tweeted a long thread explaining the next possible course of actions in the ongoing federal lawsuit against Ripple Labs. He said that it took more than nine months for the court to decide whether the case should remain in federal or state court, adding that the court proceedings had just started.

“Even though we’ve been talking about the Ripple securities litigation for almost a year, the case basically just started this week, and it’ll be a very long time – another year or more – before anything truly interesting happens.”

The Lawsuit

In retrospective, Ripple Labs is battling a high-profile allegation over its relationship with XRP. The plaintiffs allege that the San Francisco-based firm sold them XRP after misleading them about its potential bullishness. However, during the 2018’s notorious crypto crash, XRP lost 84.5-percent of its value at the year close.

https://www.youtube.com/watch?v=hMfdBtoIDUE

Ripple’s alleged control and command over XRP became the grounds for the lawsuit. Ripple reportedly created 100 million XRP tokens all at once and kept holding more than half of its supply in escrow. It would release it gradually, month-by-month, for growing Ripple’s blockchain network and XRP’s demand in the market. As such, plaintiffs argue that Ripple’s XRP was acting like a stock, which Ripple sold to raise funds for its operations.

Long Schedules

Eventually, Ripple would deny allegations against it, which would mean a long stretch between one hearing and the next. Chervinsky noted that the blockchain firm was yet to file a substantive response which would set the course of the following legal events. They would include three phases of litigations (in order of action): appointing lead plaintiff, re-filing a consolidated complaint, and responding to the accusation.

0/ The Ripple securities class action took a step forward this week, as the court set a schedule for roughly the next year of litigation.

Here's an update on where the case stands, what's next, and when we'll answer the question that never dies: "is XRP a security?"

Thread. 👇

— Jake Chervinsky (@jchervinsky) March 22, 2019

In simple terms, the court ordered plaintiffs to choose a leader who would represent them throughout the lawsuit before May 20. After they file the motion, the court will take some time to make its decision. One cannot predict how long the court would decide.

Moving further, after the court approves a lead plaintiff, it would order him to file a new consolidated complaint in the next 45-days. Such a charge should include every legal violation Ripple has committed, according to the plaintiffs. The earliest that this entire process could conclude is in July, according to Chervinsky. He added:

“After the consolidated complaint is filed, Ripple will *finally* have to submit a substantive response. I expect that will be a motion to dismiss, arguing that the allegations in the complaint–even if true–don’t add up to a violation of the securities laws.”

The court would give Ripple at least 45 days to file their response. In the meantime, the case could go anywhere given the collection and presenting of lawsuit-related evidence using devices like interrogatories, depositions & requests for documents. It would mean more time.

“So when will we know if XRP is security? Probably not in 2019 unless Ripple decides to change course & voluntarily treat XRP as security (which I sincerely doubt). Class actions are good for many things, but quickly resolving complex securities issues isn’t one of them,” Chervinsky added.

Tweet123Share196ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto russia bitcoin btc btcusd

Russia’s New Crypto Framework Could Redefine Global Trade Amid Sanctions Pressure

Russia has officially unveiled a sweeping legal framework to integrate crypto into its foreign trade system, a move widely seen...

James Halver 2 hours ago
Ethereum Slides

Ethereum Slides Gradually — Buyers Losing Control As Market Turns Cautious

Ethereum price started a recovery wave from $3,700. ETH is moving higher but faces a couple of key hurdles near...

Aayush Jindal 3 hours ago
Bitcoin Price Slides Lower

Bitcoin Price Slides Lower — Bears Tighten Grip Amid Weak Market Sentiment

Bitcoin price is attempting to recover above $107,500 and $108,000. BTC could rise further if there is a clear move...

Aayush Jindal 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin et altcoins : bottom local confirmé ? Niveaux et signaux de reprise à surveiller

Bitcoin et altcoins : bottom local confirmé ?

guillaumev 41 minutes ago

Crypto Market Records ‘Particularly Robust’ Q3 Performance With 16% Active Trader Growth – Report

Rubmar Garcia 1 hour ago
XRP Price Under Pressure

XRP Price Under Pressure — Bulls Attempt To Defend Key Support Zone

Aayush Jindal 2 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後の価格予測:12月に史上最高値の可能性、新興プレセール銘柄が注目を集める

    イーサリアム...

    17 hours ago
  • ビットコイン 今後:12億ドル規模のETF資金流出で10万7,000ドルのサポートが注目点に

    ビットコイン...

    17 hours ago
  • シバコイン 今後の価格予測:2025年強気相場に向けて再浮上の兆し、トークンバーンは上昇の鍵となるか

    シバコイン...

    17 hours ago
  • パイネットワーク価格予測:メインネットの噂で注目上昇、初期投資家に利益の可能性はあるか?

    ...

    17 hours ago
  • Have Dogecoin - Count It Toward Your Mortgag

    Có Dogecoin? Dùng để trả thế chấp – và lý do...

    18 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.