Ripple “SEC submits amendments to complaint” … Larson also filed for dismissal of lawsuit

[블록미디어 강주현 기자] Chris Larson, co-founder of Ripple Labs, filed a petition on the 4th (local time) to dismiss the US Securities and Exchange Commission (SEC) lawsuit indicting him for violating securities laws in the US court. On the same day, Ripple’s legal adviser said, “I submitted an answer to the SEC amendment complaint.”

◆ Ripple Legal Counsel “SEC, Submitting Amendment Complaint Response”

Ripple legal counsel Stuart Aldetori told Twitter: “Ripple has submitted a response to the SEC’s revised complaint. (In the answer letter) I emphasized the transparency of Ripple.” He cited Ripple being listed on more than 200 exchanges, billions of dollars worth of buying and selling every month, and the use of Ripple by a third-party company not made by Ripple.

“We are looking forward to learning more through meetings with the SEC with major Ripple market participants who have not been told that Ripple is subject to federal securities laws,” Aldetori added. In the Ripple Labs response letter attached by Aldetori, “I request an answer to and dismiss the revised complaint filed by the SEC against Ripple Labs. Unless explicitly admitted, we do not admit to any SEC’s allegations in the complaint.”

◆ Lawson Lawyers “SEC, Securities Law 5 Violation Claims Not Convincing”

Earlier, Brad Gallinghouse, CEO of Reflaps, submitted an application through a lawyer to dismiss some of the SEC lawsuit. Larson’s lawyers also argued that “the SEC’s revised complaint is still unable to state Larson’s allegations.”

At the same time the two co-founders requested dismissal of the lawsuit Remittance of $20 million worth of XRPIt also attracted the attention of the market.

A revised complaint filed by the SEC last month states that Larson made a decisive contribution to others in violating Article 5 of the Securities Act of 1933. Larson’s lawyers argued that “the SEC failed to prove that Larson knew that Ripple was inadequate.” As a basis, it was suggested that the Ministry of Justice and the Financial Crimes Enforcement Network under the US Treasury Department regarded Ripple as a virtual asset and regulated it. This is contrary to the SEC’s claim that Ripple is a security.

The lawyers also argued that “in order to claim that Larson violated Article 5 of the Securities Act, it was necessary to prove that it was done in the United States, but the SEC failed to prove that Larson actually supported Ripple Labs in selling Ripple.”

In a letter, the lawyers said, “The SEC has violated the period in which it can claim that it has violated Article 5 of the Securities Act. The period that can be argued) started in 2013 and ended in 2018.”