MetaLawMan compares XRP with oranges to show the complexity of the token’s classification.
The analogy shows that the conceptual architecture in the Howey test is inadequate for dealing with security issues.
The comparison primarily focused on the wholesale sale of oranges, which equated with XRP’s institutional sale.
In a recent CryptoLaw interview, crypto enthusiast James Murphy, known as MetaLawMan, shed light on the SEC’s appeal in the Ripple case. His insightful comparison of oranges and XRP, in the context of the Howey Test, captured the XRP community’s attention and sparked debate about XRP’s legal classification.
XRP attorney Bill Morgan praised MetaLawMan on X for his metaphorical explanation of XRP sales. Morgan argued that the analogy demonstrates the inadequacy of the Howey Test in addressing the complexities of “security issues that arise from buying crypto and the development and operation of crypto markets.”
That video was great. I always find the analogy to the Howey oranges and orange groves intriguing. @JohnEDeaton1 did it well.
Your analogy of the wholesalers buying oranges from Howey and selling at a higher price into the markets w…
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