Newly Revealed Documents Could Have Huge Implication For Ripple Lawsuit

December 29, 2022 11:21 am Comments

The DOJ recently let something slip in a court filing…

MNGO and CRV are commodities, according to a recent filing in the DOJ’s case against Avraham Eisenberg—the alleged Mango Markets hacker.

This admission could potentially have a major impact on the Ripple V SEC lawsuit.

Skeptics point to the fact that government bureaucracies and regulatory agencies simply use this language when it is convenient for their purposes, and that this recent development has no broader implications…

The documents are presented here:


As Ripple CEO Brad Garlinghouse points out, previous DOJ reports have listed crypto as different things ranging from commodities to securities:

Previously, the DOJ served up this nightmare in terms of regulatory clarity:

Part II explores the various legal and regulatory tools at the government’s disposal to confront the threats posed by cryptocurrency’s illicit uses, and highlights the strong and growing partnership between the Department of Justice and the Securities and Exchange Commission, the Commodity Futures Commission, and agencies within the Department of the Treasury, among others, to enforce federal law in the cryptocurrency space.

Finally, the Enforcement Framework concludes in Part III with a discussion of the ongoing challenges the government faces in cryptocurrency enforcement—particularly with respect to business models (employed by certain cryptocurrency exchanges, platforms, kiosks, and casinos), and to activity (like “mixing” and “tumbling,” “chain hopping,” and certain instances of jurisdictional arbitrage) that may facilitate criminal activity.


According to Bitcoinist:

For Ripple, the DoJ may have provided another argument that the legal situation for cryptocurrencies is not as clear as the SEC always claims. Since both CRV and MNGO are designated as commodities, it is at least reasonable to assume that XRP is a commodity and not a security.

Remarkably, these documents were filed by the U.S. Department of Justice in the Southern District of New York, the same court where the case between Ripple and the SEC is taking place.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.