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In a recent article citing Stephen Palley and Nelson Rosario, two experts in legal cryptography, The Block talks about Ripple's litigation. Ripple has been quoted several times for selling unrecorded securities with their XRP cryptocurrency.
The plaintiffs accuse XRP of being an offer of unrecorded securities. This is something that Ripple denies by explaining that XRP and Ripple are not the same things. Brad Garlighouse has recently stated that XRP will continue to trade in exchanges around the world, even if the Ripple company interrupts its operations.
According to this analysis by The Block and these legal experts, one of the cases called Greenwald v. Ripple it was removed from the federal court by Ripple. However, the company decided to postpone it again in the fall. They removed the case for the second time explaining that Zakinov had been consolidated with another case.
The experts say that the plaintiff claims that the case should be postponed to allow the administrative reorganization to be questioned. Furthermore, they state that consolidation was not a voluntary act. Finally, the plaintiff stated that the underlying operating claim is not removable.
Analysts believe that defendants like the federal court are better than the state court and that's why they decided to change it. Furthermore, the author of the article states that Ripple could try to slow down the case as much as possible.
Ripple he's trying to find better regulatory clarity about his company and the XRP virtual currency. Due to the fact that there is still uncertainty regarding XRP, there are some companies and exchanges that do not offer XRP support, not allowing the XRP register to grow even more.
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