Plot twist: former SEC officials to represent Ripple in court

As suggested by the latest messages, two former SEC officials will have an opportunity to express their opinion in court regarding Ripple - and surprisingly enough, they will be holding speeches in support of the defendant, Ripple Labs.

Mary Jo White has been a leader of the United States Securities and Exchange Commission from 2013 to 2017. Andrew Ceresney was a Director of the Commission’s Division of Enforcement in 2014. Both are now working at high positions at Debevoise & Plimpton, prominent law firm.

The lawsuit itself is nothing new for those who regularly reads Bitnewstoday pages: investor Ryan Coffey has filed a case against Ripple after making rather unsuccessful trades. More importantly, he considers strange how all Ripple tokens are already pre-mined.

When recently reached for comments on this case, the representative of Ripple has reminded that it’s only for the SEC to decide whether or not their tokens are securities.

The Securities and Exchange Commission is now conducting a mass investigation of the ICO market. Many entrepreneurs do not bother to act as securities issuers even though this financial supervision agency has explicitly reminded about the legal principle of equality of tokens to securities.

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