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<p class="is-style-lead">Crypto lawyer Jesse Hynes expressed hope that the court supervising the Securities and Exchange Commission&#8217;s (SEC) legal action against Ripple would declare XRP a non-security digital asset. </p>



<p>According to Hynes, if the court decides to look into whether or not <a href="https://crypto.news/price/xrp/">XRP</a> is a security, then this decision might be made. The former Gala Games CLO, Hynes, has taken to Twitter to comment on the latest developments in the litigation. </p>



<p>Hynes claims that it is possible that the court would rule that the first XRP sales violated U.S. securities laws. He added that the court might decide that Ripple&#8217;s existing sales practices do not violate securities laws.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">I think your summary is sound and a distinction between early and later sales can lead to a conclusion that a digital asset can change from a security to not being a security but it would be more consistent with 1) The economic reality, 2) the technology, 3) the law, /1 <a href="https://t.co/j1Snm9tIka" target="_blank">https://t.co/j1Snm9tIka</a></p>&mdash; bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1660766178279854080?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 22, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>As the crypto lawyer pointed out, whether the court will rule whether XRP is a security is unclear. However, according to Hynes, the court may feel obligated to issue a ruling because the SEC has been so focused on XRP&#8217;s status. </p>



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<h2 class="wp-block-heading" id="bill-morgan-s-views-on-the-lawsuit">Bill Morgan’s views on the lawsuit</h2>



<p>Bill Morgan, another crypto-focused lawyer, echoed Hynes&#8217; appraisal of the new developments in the litigation on Twitter. Morgan emphasized the possibility that digital assets might move from being regarded as securities to non-securities based on the timing of the transactions.</p>



<p>Morgan said that XRP sales to Ripple&#8217;s on-demand liquidity (ODL) customers might bolster the case for XRP&#8217;s designation as a non-security digital asset. </p>



<p>He said the judge recognized the difference between programmatic and institutional sales of <a href="https://crypto.news/learn/a-complete-guide-to-ripple-and-xrp/">XRP</a> was evident in her recent decision to reject his request to seal the Hinman papers. </p>



<p>William Hinman, the former director of corporation finance at the SEC, commented that <a href="https://crypto.news/price/ethereum/">ethereum</a> was a non-security asset in internal conversations and remarks in the Hinman papers.</p>



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<iframe title="Ripple/XRP-SEC Emails Suggest XRP Is NOT A Security" width="1020" height="574" src="https://www.youtube.com/embed/k7S5tsp-M90?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>These opinions from crypto legal experts hint at a possible change in the categorization of XRP, but the result of the SEC v. Ripple litigation is still up in the air. </p>



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Crypto lawyers speculate on XRP’s classification in SEC lawsuit

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