XRPL COURT CASES 13-55: United States Sec. & Exch. Comm'n v. Bluepoint Inv. Counsel 19-cv-809-wmc (W.D. Wis. Nov. 16, 2021)
United States Sec. & Exch. Comm'n v. Bluepoint Inv. Counsel
The claim to a denial of fair notice is similarly meritless. “Due process requires that “laws give the person of ordinary intelligence a reasonable opportunity to know what is prohibited.” Upton v. S.E.C., 75 F.3d 92, 98 (2d Cir. 1996) (quoting Grayned v. City of Rockford, 408 U.S. 104, 108 (1972). In cases assessing whether fair notice was given, however, courts look to the particular SEC rule or rule interpretation that is challenged. E.g., Upton v. S.E.C., 75 F.3d 92 (2d Cir. 1996) (looking at whether Rule 15c3-3(e) was interpreted correctly); Sec. & Exch. Comm'n v. Ripple Labs, Inc., No. 20CV10832ATSN, 2021 WL 2323089 (S.D.N.Y. May 30, 2021) (looking at whether the SEC considered XRP a security); KPMG, LLP v. S.E.C., 289 F.3d 109 (D.C. Cir. 2002) (looking at the interpretation of AICPA Rule 302).
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