🗣Judge Torres criticized the SEC's conflicting theories in the Ripple case

Judge Analisa Torres criticized the US Securities and Exchange Commission for its volatile and inconsistent arguments regarding its legal theories about Ripple's XRP.

According to Judge Torres, the SEC at one point argued that the XRP distributions constituted offers and sales of unregistered securities because they were made in exchange for non-cash considerations.

On the other hand, the regulator argued that the distribution constituted indirect sales of XRP. The SEC said these transactions were conducted to create cryptocurrency liquidity and promote interest in Ripple by attracting people to its technology.