Blockchain network Ripple has applied for a motion to dismiss a lawsuit charging it for offering unregistered securities.
In a court filing posted by Fortune on September 20, legal counselors representing the firm against investor Bradley Sostack dismissed the claims.
Part of a progressing court case, Sostack states Ripple’s sales of XRP in 2013 comprised an illegal securities offering.
Ripple denies this, but the case has hurled greater worries over the legitimateness of Ripple’s activities concerning XRP. As previously reported, officials have refused to recognize the organization’s relationship to the token, in spite of their massive personal holdings and ongoing sell-offs.
Presently, new doubts are stirring after the legal advisors’ motion to dismiss was not able to address the securities part of XRP by any means.
“Because of the multiple, independent grounds for dismissing this action, the Court need not resolve whether XRP is a security or currency for purposes of this Motion, which assumes Plaintiff’s allegation that XRP is a security,” a segment peruses.
The substance of the filing attracted the attention of crypto-centered legal counselor Jake Chervinsky.
“They make twelve separate arguments for dismissal of the plaintiff’s claims. Not a single one squarely addresses whether XRP is an unregistered security,” he said through Twitter on Friday.