Pro-Ripple lawyer slams EC for uncertainty over DASH, XRP security status $XRP $DASH XRPCommunity XRPArmy XRPHolders
Morgan noted the fact that Ripple was sued eight years after selling XRP. He criticizes the SEC's approach, saying regulatory clarity could in no way be achieved by this means.
Over the weekend, Bittrex and its co-founder, William Shihara, filed motions to dismiss the SEC's complaint.In April of this year, the Securities and Exchange Commission sued Bittrex and its co-founder and former CEO William Shihara for operating an unregistered securities exchange, broker and clearing agency.
A part of Bittrex's motion to dismiss the SEC's complaint reads:"DASH, OMG, and ALGO were launched in 2014, 2017, and 2019, respectively. None were registered as securities by their founders or promoters, and in the years following their launch, the SEC did not publicly express the view that any of these were securities. The first time the SEC publicly expressed this view was nearly a decade after DASH launched when it filed this lawsuit against Bittrex Global.
He continued in another tweet,"9 years of uncertainty, then suddenly Dash is alleged by the SEC to be a security. And this after there was no indication that PoW tokens, which are mined, were securities." The SEC's backdoor approach to regulation is widely criticized as it evades regulatory clarity, which many believe is required to foster an environment conducive to responsible innovation.
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