Landmark XRP ruling could force SEC to settle with Coinbase, says securities law professor

Quick Take

  • Securities law professor J.W. Verret unpacks the recent XRP verdict and the implications it could have for Coinbase’s case against the SEC

Episode 65 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Associate Professor of Law at George Mason Law School and former Advisory Committee Member to the U.S. Securities and Exchange Commission J.W. Verret.

Listen below, and subscribe to The Scoop on Youtube, AppleSpotifyGoogle PodcastsStitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].


Professor J.W. Verret teaches corporate and securities law and financial accounting at George Mason Law School.

 In this episode, Verret analyzes the recent verdict on Ripple's XRP token which concludes that "Ripple’s Programmatic Sales of XRP did not constitute the offer and sale of investment contracts."

In addition to providing a degree of regulatory clarity for crypto assets, Verret also argues that the court's decision in the XRP case will greatly improve Coinbase's chances in their court case against the SEC.

Outline:

1:05 - XRP court verdict

6:00 - Coinbase re-listing XRP

7:15 - Coinbase vs. SEC

9:55 - Will the SEC settle?

12:08 - Appellate court

13:04 - New SEC Chair

14:06 - Unregistered securities

15:00 - Major Questions Doctrine

16:22 - Crypto legislation

17:00 - Partisan politics

20:40 - Spot Bitcoin ETF

22:05 - Closing thoughts


© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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