Tag: Ripple

Crypto firms facing US SEC charges find hope in Ripple ruling, experts say | Reuters

Crypto firms have long disputed the SEC’s jurisdiction but until Thursday no court had supported that view. Now, industry lawyers have ammunition to fight back. “This case will cause people to rethink, and I think it already has,” said Robert Frenchman of Mukasey Frenchman LLP. *** Crypto proponents viewed the decision as a watershed and the judge’s reasoning as a…

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Ripple Is a Security and It Isn’t – Bloomberg

More broadly, if you take this decision seriously, it means that the SEC has essentially no jurisdiction over crypto. Most token sales will either be (1) direct to institutional investors or (2) on exchanges. Sales on exchanges, says Judge Torres, are not securities offerings, because the buyer doesn’t know that she is giving money to the issuer. Sales to institutional…

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Is The Ripple Decision a Cause For Crypto-Celebration? Momentarily at Best | John Reed Stark

The Ripple Decision proclaims that the same exact token can be a security sometimes but not a security other times. And the more ignorance and willful blindness by retail investors, than the less protection the retail investors will receive. And the less disclosure about the token, then the less liability for the token issuer. That just can’t be right. Source:…

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Judge’s Ruling on Ripple’s XRP Token Gives Crypto Industry a Victory – The New York Times

The S.E.C. sued Ripple in December 2020, accusing the firm of violating securities laws in one of the first major legal fights involving cryptocurrencies. In the 34-page ruling on Thursday, Judge Analisa Torres of the U.S. District Court for the Southern District of New York said that Ripple did not break the law when the cryptocurrency it created, XRP, was…

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So, Ripple

The SEC brought an enforcement action claiming that XRP was a security, and therefore all of the defendants sold securities without registering them, in violation of Section 5 of the Securities Act.  The court held that the sales to institutional investors were sales of securities, but not the remaining sales. I’ll start with: The holding makes no sense, but to…

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Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray – Preston J Byrne

Following Thursday’s bombshell split decision by judge Analisa Torres of the Southern District of New York (SDNY) in SEC v. Ripple Labs et al., the answer appears to be that XRP is both an unlawfully sold investment contract when sold to VCs or institutional buyers, but a perfectly lawful, “something else” when sold anonymously via cryptocurrency exchanges, or distributed to…

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FTX Collapse Puts Focus on Ripple Case for Who Should Regulate Crypto – Bloomberg

In the wake of the implosion of cryptocurrency exchange FTX, one urgent question keeps resurfacing: Who should regulate the industry? An upcoming ruling in New York federal court could help determine the answer, along with the fates of numerous crypto investors and companies. The case hinges on whether a prominent digital token should be treated as a security, which would fall under…

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