Ripple執行長因2017年「誤導性陳述」面臨審判

根據律師 Fred Rispoli 的說法，Ripple 推廣的 XRP 在加州肯定會被歸類為證券。

A California judge has ruled that a civil securities lawsuit against Ripple CEO Bradley Garlinghouse can head to trial, rejecting the blockchain company’s motion for summary judgment in a case alleging that Garlinghouse broke state securities laws back in 2017.

加州一名法官裁定，針對Ripple 執行長布拉德利·加林豪斯(Bradley Garlinghouse) 的民事證券訴訟可以進入審判階段，駁回了該區塊鏈公司在指控Garlinghouse 於2017 年違反州證券法的案件中提出的簡易判決動議。

The suit alleges that during an appearance at Canada’s BNN Bloomberg, Garlinghouse broke California’s securities laws after asserting he was “very, very long” on XRP while simultaneously selling “millions of XRP” on multiple crypto exchanges throughout that year.

該訴訟稱，加林豪斯在加拿大BNN 彭博社露面時，聲稱自己“非常非常多”持有XRP，同時全年在多個加密貨幣交易所出售“數百萬個XRP”，違反了加州的證券法。

However, Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California on June 13 granted Ripple’s summary judgment motion on failure to register XRP as a security claims as well as the state law securities claims.

然而，美國加州北區地方法院法官菲利斯·漢密爾頓 (Phyllis Hamilton) 於 6 月 13 日批准了 Ripple 就未能將 XRP 註冊為擔保債權以及州法律證券債權而提出的簡易判決動議。

The judge ultimately decided that a jury would decide if Garlinghouse had made “misleading statements” during the 2017 interview.

法官最終決定由陪審團來決定加林豪斯在 2017 年的採訪中是否做出了「誤導性陳述」。

According to attorney Fred Rispoli, XRP is on course to being classified as a security in California, despite not being a security in New York.

據律師 Fred Rispoli 稱，儘管 XRP 在紐約並不是一種證券，但它在加州將被歸類為證券。

Ultimately, crypto world needs to keep pressure on getting federal legislation, because we are on track to having $XRP be a security in California but not in New York. 4/4

最終，加密世界需要繼續施加壓力，要求聯邦立法，因為我們有望讓 XRP 在加州成為一種證券，但在紐約卻不然。 4/4

Rispoli noted in his post on X that Judge Hamilton granted Ripple’s summary judgment motion on failure to register XRP as a security claims as well as the state law securities claims.

Rispoli 在 X 上的貼文中指出，漢密爾頓法官批准了 Ripple 因未能將 XRP 註冊為證券債權以及州法律證券債權而提出的簡易判決動議。

Court documents show that Ripple’s legal team had asked the judge to toss out the “misleading statement” claim as XRP is not a security under the Howey test and “thus cannot give rise to a claim for misleading statements in connection with a security.”

法庭文件顯示，Ripple 的法律團隊已要求法官駁回「誤導性陳述」主張，因為 XRP 不是 Howey 測試下的證券，「因此不能提出與證券有關的誤導性陳述的主張」。

In the June 20 ruling, Judge Hamilton revealed that Ripple’s attorneys nudged her to “follow the reasoning” of U.S. District Court Judge Analisa Torres who, in a similar case in the Southern District of New York, declared in July 2023 that XRP did not qualify as a security when sold to non-institutional investors.

在6 月20 日的裁決中，漢密爾頓法官透露，Ripple 的律師敦促她“遵循美國地方法院法官Analisa Torres 的推理”，後者在紐約南區的一個類似案件中於2023 年7 月宣布XRP 不符合資格出售給非機構投資者時作為證券。

Torres' ruling was considered a landmark victory for Ripple and was hailed by many crypto pundits as a step in the right direction for much-needed regulatory clarity. Some believed other judges would use the ruling as a precedent when deciding on other crypto-related securities lawsuits.

托雷斯的裁決被認為是 Ripple 的里程碑式勝利，並被許多加密貨幣專家稱讚為朝著急需的監管清晰度的正確方向邁出的一步。有些人認為，其他法官在決定其他與加密貨幣相關的證券訴訟時會使用該裁決作為先例。

However, Hamilton disagreed and instead ruled that XRP could be a security when sold directly to retail customers via exchanges. She said these investors would have anticipated profits from Ripple’s efforts, which is one of the hallmarks of an investment contract as per the Howey test:

然而，漢密爾頓不同意，並裁定 XRP 透過交易所直接出售給零售客戶時可以成為一種證券。她表示，這些投資者預計會從 Ripple 的努力中獲得利潤，根據 Howey 測試，這是投資合約的標誌之一：

“The court declines to find as a matter of law that a reasonable investor would have derived any expectation of profit from general cryptocurrency market trends, as opposed to Ripple’s efforts to facilitate XRP’s use in cross-border payments, among other things.”

“法院拒絕從法律角度認定合理的投資者會從一般加密貨幣市場趨勢中獲得任何利潤預期，而不是 Ripple 為促進 XRP 在跨境支付等領域的使用而做出的努力。”

It’s worth mentioning that Judge Jed Rakoff of the U.S. District Court for the Southern District of New York also emphatically rejected Torres' historic distinction between institutional sales and sales to retail investors on crypto exchanges in a separate suit lodged by the U.S. Securities and Exchange Commission (SEC) against Do Kwon and his company Terraform Labs.

值得一提的是，美國紐約南區地方法院法官 Jed Rakoff 在美國證券交易委員會提起的另一起訴訟中也斷然駁回了托雷斯在加密貨幣交易所對機構銷售和向散戶投資者銷售的歷史性區分（ SEC）對抗Do Kwon 及其公司Terraform Labs。

A conclusion that XRP is indeed a security could subject Ripple to strict regulatory laws, potentially affecting its operations and market dynamics.

XRP 確實是一種證券的結論可能會使 Ripple 受到嚴格的監管法律的約束，這可能會影響其營運和市場動態。

The SEC recently reduced its proposed penalties for Ripple from $2 billion to $102.6 million. The pair have been battling it out in court since December 2020 when the SEC claimed Ripple sold unregistered securities.

SEC 最近將對 Ripple 提出的罰款從 20 億美元減少到 1.026 億美元。自 2020 年 12 月 SEC 聲稱 Ripple 出售未註冊證券以來，兩人一直在法庭上展開鬥爭。

Judge Torres is expected to rule on suitable remedies in the Ripple vs. SEC case in the course of this year.

托雷斯法官預計將在今年就 Ripple v. SEC 案件做出適當的補救措施。

At press time, XRP traded at $0.4893.

截至發稿時，XRP 交易價格為 0.4893 美元。