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Lawyer Bill Morgan has called out what he described as the biggest lie regarding XRP’s lack of perceived legal clarity.  Morgan, a supporter of Ripple and XRP, was responding to an X user on June 1 who argued that XRP has no legal standing, lacks major institutional support, and plays no role in central bank digital currencies (CBDCs). He firmly rejected that claim, citing Judge Analisa Torres’s July 2023 ruling, which determined that XRP, as a digital asset, is not inherently a security. This is a lie. XRP has been found by a judge not itself to be a security. The SEC Appeal did not challenge that finding. To say XRP has no legal clarity is the biggest lie I have seen in crypto this year. https://t.co/6x1AycUxja — bill morgan (@Belisarius2020) June 1, 2025 The ruling made a clear distinction: while Ripple’s institutional sales were deemed securities transactions, programmatic sales on exchanges were not. Although the SEC appeale...

Following the recent remarks that the chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, made before the 2023 Securities Enforcement Forum, the chief legal officer at Ripple, Stuart Alderoty, criticized him for having “prejudged” the entire cryptocurrency sector. Specifically, Gensler was quoting the first SEC chair, Joseph P. Kennedy, who said that the agency comprised “partners of honest business and prosecutors of dishonesty,” and Alderoty pointed out that the securities regulator sued Ripple “but never charged it with ‘dishonesty,’” as he said in an X post on November 17. According to the legal expert, the SEC had pre judge d the “failed case” against Ripple, “beginning with the ethically compromised Bill Hinman,” referring to the former SEC enforcement division director whose speech became one of the key pieces of evidence the blockchain company’s defense used in the lawsuit. As Alderoty further concluded, the current SEC boss has already pr...