The Ripple-SEC legal battle, which has been ongoing for over two years, has finally come to its end. In December 2020, the United States Securities and Exchange Commission (SEC) accused Ripple and two of its executives of launching a security without registration. On the other hand, Ripple continuously argued that it did not sell unregistered securities. Now, the decision lies in the hands of the court.

The court hearing has been observing a plethora of legal considerations and arguments, but the case has largely been based on the application of the ruling established in the case of Howey. Crypto lawyer, Bill Morgan, delved into this matter and stated that the Ripple defense in the lawsuit does not solely relate to the decentralization of the XRP ledger, but to the application of the Howey test.

Morgan's analysis was supported by John Deaton, the CryptoLaw founder. Deaton elaborated that based on his overall research and vast involvement in investment contracts, he hasn't found a single instance where a case found the asset itself to be a security with the absence of "privity" between the buyer and the promoter of the asset.

On the other hand, Ripple CEO Brad Garlinghouse, also shared some positive news by taking to Twitter to recount the giant strides that the company is making in Dubai. He stated that Ripple is expanding in Dubai, with 20% of its customers being based in the Middle East and North Africa region. He also stated that Dubai is emerging as the leading financial hub for crypto innovation to thrive.

Overall, after a prolonged legal battle, the fate of Ripple lies in the hands of the court. As Morgan, Deaton, and Garlinghouse have verbalized, the investors have been keenly hoping for a positive outcome that would benefit the future of Ripple and the crypto space, in general.



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