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Attorney Jeremy Hogan commented on the SEC letter in the trial against Ripple, pointing out the problem of reasoning.
Lawyer Jeremy Hogan commented on the SEC letter in the trial against Ripple. The US regulator points to an earlier case where the fair notice protection, which is the main point of Ripple, was dismissed. According to Jeremy Hogan, this was a completely different stage of the trial, and the standard was completely different from the SEC case against Ripple:
In that case, the Defendant tried to make a “fair notice” argument to dismiss the claim altogether (and failed) because the burden is very high for the party moving to bring the claim. The company may still raise it as a positive defense later – and I expect them to. In the case of Ripple, the SEC is trying to resist the affirmative defense of fair notice, and a heavy burden falls on it. The general idea in modern courts is that a decision should be made after examining the evidence, unless there is a “plausible” way to win. Simpler: The new SEC case also discusses whether a guy should date a girl. But in the new case, there is a 25-year-old guy, and in the Ripple case, a 50-year-old guy. The girl has not changed, but the CRITERIA that the guy will use to make a decision are COMPLETELY different.
Previously, it was reported that the US District Court released the transcript of a widespread conference call on August 31 in the SEC v. Ripple case, as well as information that Ripple’s partner Tranglo is opening a payment corridor to Hong Kong.
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