Sam Lyman thinks it’s becoming increasingly clear to the bodies of litigation that the new SEC administration doesn’t stand a good enough chance of winning the Ripple case.
The SEC’s position on Ripple and its main asset, XRP, distorts the SEC’s previous position, according to the examiner, Gary Gensler.
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Sam Lyman is confident: The weakness of the current SEC administration’s position is that the main purpose of the lawsuit is not to uncover regulatory violations, but to attack the crypto industry in disguise.
So the SEC has to get creative in inventing motives as the lawsuit goes beyond mere enforcement of US securities laws.
Earlier, the court ordered the Commission to attach Ripple’s case with drafts of a speech by former SEC Director of Corporate Finance William Hinman on the status of ether.