Ripple首席执行官因2017年“误导性陈述”面临审判

根据律师 Fred Rispoli 的说法，Ripple 推广的 XRP 在加利福尼亚州肯定会被归类为证券。

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.

加利福尼亚州一名法官裁定，针对 Ripple 首席执行官布拉德利·加林豪斯 (Bradley Garlinghouse) 的民事证券诉讼可以进入审判阶段，驳回了该区块链公司在指控 Garlinghouse 于 2017 年违反州证券法的案件中提出的简易判决动议。

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.

该诉讼称，加林豪斯在加拿大 BNN 彭博社露面时，声称自己“非常非常多”持有 XRP，同时全年在多个加密货币交易所出售“数百万个 XRP”，违反了加州的证券法。

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，美国加州北区地方法院法官菲利斯·汉密尔顿 (Phyllis Hamilton) 于 6 月 13 日批准了 Ripple 就未能将 XRP 注册为担保债权以及州法律证券债权而提出的简易判决动议。

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

法官最终决定由陪审团来决定加林豪斯在 2017 年的采访中是否做出了“误导性陈述”。

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.

据律师 Fred Rispoli 称，尽管 XRP 在纽约不是一种证券，但它在加利福尼亚州将被归类为一种证券。

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

最终，加密世界需要继续施加压力，要求联邦立法，因为我们有望让 XRP 在加州成为一种证券，但在纽约却不然。 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 上的帖子中指出，汉密尔顿法官批准了 Ripple 因未能将 XRP 注册为证券债权以及州法律证券债权而提出的简易判决动议。

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.”

法庭文件显示，Ripple 的法律团队已要求法官驳回“误导性陈述”主张，因为 XRP 不是 Howey 测试下的证券，“因此不能提出与证券有关的误导性陈述的主张”。

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 日的裁决中，汉密尔顿法官透露，Ripple 的律师敦促她“遵循美国地方法院法官 Analisa Torres 的推理”，后者在纽约南区的一个类似案件中于 2023 年 7 月宣布 XRP 不符合资格出售给非机构投资者时作为证券。

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.

托雷斯的裁决被认为是 Ripple 的里程碑式胜利，并被许多加密货币专家称赞为朝着急需的监管清晰度的正确方向迈出的一步。一些人认为，其他法官在决定其他与加密货币相关的证券诉讼时会使用该裁决作为先例。

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，汉密尔顿不同意，并裁定 XRP 通过交易所直接出售给零售客户时可以成为一种证券。她表示，这些投资者预计会从 Ripple 的努力中获得利润，根据 Howey 测试，这是投资合同的标志之一：

“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.”

“法院拒绝从法律角度认定合理的投资者会从一般加密货币市场趋势中获得任何利润预期，而不是 Ripple 为促进 XRP 在跨境支付等领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，美国纽约南区地方法院法官 Jed Rakoff 在美国证券交易委员会提起的另一起诉讼中也断然驳回了托雷斯在加密货币交易所对机构销售和向散户投资者销售的历史性区分（ SEC）对抗 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 确实是一种证券的结论可能会使 Ripple 受到严格的监管法律的约束，从而可能影响其运营和市场动态。

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 最近将对 Ripple 提出的罚款从 20 亿美元减少到 1.026 亿美元。自 2020 年 12 月 SEC 声称 Ripple 出售未注册证券以来，两人一直在法庭上展开斗争。

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

托雷斯法官预计将在今年就 Ripple 诉 SEC 案件做出适当的补救措施。

At press time, XRP traded at $0.4893.

截至发稿时，XRP 交易价格为 0.4893 美元。