Pro-XRP lawyer Bill Morgan has made a compelling argument regarding Ripple’s On-Demand Liquidity (ODL) sales. Moreover, he emphasized that these ODL sales do not constitute investment contracts. Morgan’s assertion comes amidst Ripple Labs’ ongoing legal battle with the United States Securities and Exchange Commission (SEC) over the classification of XRP.
Ripple Vs SEC: Why Are ODL Sales Not Investment Contracts?
In a recent statement on X, Morgan stated, “I have argued for three years that ODL contracts are not investment contracts.” He highlighted Ripple’s stance that ODL sales differ from traditional investments as customers hold XRP for only a few seconds to facilitate cross-border payments. Furthermore, he underscored that the ODL isn’t used for investment purposes.
In addition, the lawyer added that Ripple’s contracts explicitly prevent customers from expecting or earning profits from XRP purchases. This statement comes after Ripple filed opposition to the SEC’s
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