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Originally Posted by Fuzz
Well that's decisive.
Good possibility?
I guess I fail to see how this provides clarity or confidence. It looks like a lot of uncertainty to me.
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July 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, delivering a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
XRP was up 25% after the ruling, according to Refinitiv Eikon data.
But the ruling was also a partial win for the U.S. Securities and Exchange Commission, which has brought scores of cases against crypto developers, although Ripple Labs is by the far the largest to be decided by a judge. U.S. District Judge Analisa Torres ruled that Ripple violated federal securities law by selling the cryptocurrency XRP directly to sophisticated investors.
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While there are a few facets to the case and not all of them went in Ripple's favour, the big one was the sale of XRP on exchanges. Ripple did lose on their fair notice defence which will take that tool out of the box for anyone else the SEC decides to go after.
So really while it was a split decision Ripple got the part they wanted, an outright admission that XRP is not a security when sold on exchanges.