World Crypto Global
- Written by: Lele Jima
- Sat, 22 Jul 2023
- United States
Prominent American investor Mark Cuban says Ripple made it clear that not every crypto buyer is an investor. The recent filing by the SEC in its case against TerraForm Labs and its founder, Do Kwon, has continued to stir reactions among crypto enthusiasts. In its response to Kwon’s motion to dismiss, the SEC said Judge […] The post Mark Cuban Says SEC “Refers to Every Buyer As Investor,” But Ripple Proved Otherwise first appeared on The Crypto Basic.
Mark Cuban Says SEC “Refers to Every Buyer As Investor,” But Ripple Proved Otherwise
Prominent American investor Mark Cuban says Ripple made it clear that not every crypto buyer is an investor.
The recent filing by the SEC in its case against TerraForm Labs and its founder, Do Kwon, has continued to stir reactions among crypto enthusiasts. In its response to Kwon’s motion to dismiss, the SEC said Judge Torres made a wrong decision in the Ripple lawsuit.
Notably, the SEC indicated plans to appeal the ruling, where she declared Ripple’s XRP sales to retail investors as non-securities.
Cuban Faults SEC Assertion
Reacting, prominent American businessman Mark Cuban slammed the SEC over its response to Kwon’s motion. According to Cuban, in its filing, the SEC referred to every buyer of crypto assets as an investor.
He made this known during an exchange with Coinbase Chief Legal Officer Paul Grewal regarding SEC’s filing.
They also refer to every buyer as an investor in their filing. That's not the case and Ripple made that clear. Securities have one purpose, to be a security. For a DeFi or CEX buyer it's impossible to know why a buyer buys. But it is possible to look at the Blockchain and see…
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