The proceedings in the court case against Ripple Labs and CEOs Christian Larsen and Brad Garlinghouse took a turn on Mar. 19. The case was conducted online, with a phone line for observers.
During the proceedings, Judge Netburn asked the defense for clarification:
“My understanding of XRP is that not only does it have a currency value but it also has a utility and that utility distinguishes it from Bitcoin and Ether.”
The defense replies that Bitcoin and Ether do also have their own use cases, but that the utility of XRP is undeniable. The defense then gives an example of cross-border inter-bank transfers.