Legal Expert: “XRP Itself Was, Is, and Forever Will Be, Not a Security”
Main Idea
Legal expert Bill Morgan asserts that XRP is not a security, following the conclusion of Ripple's case with the SEC, which was formally dismissed in August 2025.
Key Points
1. Bill Morgan stated that Ripple's programmatic sales of XRP are no longer subject to legal challenge between the SEC and Ripple, as the issue is now 'res judicata'.
2. The SEC and Ripple jointly filed a stipulation of dismissal on August 7, 2025, ending the legal battle and confirming XRP's status as not a security.
3. Ripple's Chief Legal Officer affirmed the finality of the court's decision, calling it 'the law of the land'.
4. Bill Morgan criticized Bitcoin maximalists, including Michael Saylor, for their views on securities.
5. Ripple CEO Brad Garlinghouse reaffirmed the company's commitment to compliance and innovation following the legal resolution.
Description
Prominent lawyer Bill Morgan has made a definitive statement on XRP’s legal status following the conclusion of Ripple’s case with the SEC. He stated that the issue of Ripple’s programmatic sales and other distributions “is now res judicata” between the SEC and Ripple, and affirmed that those sales were lawful. Res judicata refers to a matter that has already been adjudicated and is no longer open to further legal challenge between the same parties. XRP’s status is no longer an unresolved regulat...
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