- Attorney Lewis Cohen and John Deaton presented the “embodiment theory” in the SEC v. Ripple case.
- The judge adopted the “embodiment theory” and ruled that XRP is not a security.
- The possibility of a SEC appeal was discussed, with speculation that it could be to offer a satisfactory settlement to Garlinghouse and Larsen.
Attorney Lewis Cohen of DLx Law, in collaboration with founder and host of CryptoLawTV John Deaton, presented a compelling argument, known as the “embodiment theory,” leading to the court ruling that XRP is not a security in and of itself.
In a recent discussion on CryptoLawTV, a channel known for its ability to transform complex legal jargon into layman terms, Deaton highlighted Cohen’s contribution to the SEC v. Ripple case. He revealed that the judge had read Lewis’ article and adopted the phrase “embodiment theory” from it, as seen in the judge’s ruling.
Source
The article by Cohen, an expert in the field, examined the Howey test in depth, asserting that digital assets should be evaluated based on their inherent characteristics rather than their usage or application. The embodiment theory argued that XRP, as a digital token, cannot be…
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