Ripple's Legal Case Concludes, Fair Notice Defense Still Valid for Others

According to Foresight News, Ripple's Chief Legal Officer Stuart Alderoty has stated that while Ripple's legal case has concluded, the 'fair notice' defense remains applicable for others. The U.S. Securities and Exchange Commission (SEC) had previously cited the 2017 DAO report in an attempt to demonstrate that it had provided advance notice to the industry that 'crypto asset securities' must comply with U.S. securities laws. Seven years later, the SEC apologized to a federal judge, acknowledging that its use of inherently unclear terminology had caused confusion.