We all know that the SEC verse Ripple case is still going on and we are currently in our settlement phase.We also know that XRP is not a security on the secondary market.And in this particular case Finance's existing case decision, which is now case law is also probably going to help Ripple in their $770 million settlement. Let's explain how finances case law could potentially help Ripple in their battle against the SEC.The case is Anderson versus Finance.

And basically what happened in is a bunch of investors in 2017 bought a bunch of different crypto assets and these investors went ahead and brought a lawsuit against Finance in 2022.They allege that stayed or starting in July of 2017, Finance promoted, offered and sold very security tokens in the US without indicating risk and without telling investors that these tokens were securities.Please keep in mind these investors claimed that they became aware that these tokens were considered securities in April of 2019 with the SEC issued A framework categorizing tokens as securities, which the SEC didn't really do that.They gave no guidelines.

And again, Gary Gensler from the SEC can't even tell you the theory.But anyways, they allege that Binance violated securities laws.The judge just missed the case and said the investors sued too late and they shouldn't have waited over a year after buying these tokens to come up with this law.So they also said that domestic securities laws matter and they apply because Binance wasn't a domestic exchange, even though it's uses servers and computers located in the US.

Again, Binance is an international exchange.There was a time period where they operated in the US, but the USSEC and other regulatory advice says no, you can't do that.But basically Attorney Hogan says we really should be thanking Binance for this case because it helps establish president.The president is that restriction reach of the US securities laws outside of the US because again finance is no longer operating in the US.

Ripple and the SEC have submitted to Judge Torres the proposed schedule regarding the remedies, discoveries and the briefing.An attorney Hogan that says that this will be interesting as nothing less is at stake than the sovereign rights of these foreign countries.The Supreme Court says that Ripple's sales must have been in the USA or at least on AUS exchange and again where this took place was not in the US And Hogan also asked how the SEC's expert is going to get around that.

Attorney John Deaton says Ripple will not come close to paying the requested 770 million and the SEC seeks disorgaments related to XRP sales in the UK, Japan, Switzerland and other countries.And Dean said not only does the courts Morrison decision exclude those sales, but XRP is deemed in non security in those and other jurisdictions.Again in the US market secondary market XP is not a security.The UK's financial regulator deemed XRP an exchange utility token and not a security and the same thing happened with Japan's regulator.