The court rules that XRP sales to institutional buyers were unregistered securities, giving the SEC a partial victory. Find out what this means for Ripple and the ongoing regulatory landscape.
). This ruling marked a notable development in the case and highlighted the distinction between various digital assets.the Token Safe Harbor Proposal 2.0. This proposal aimed to give developers a three-year grace period, exempting them from securities laws, to better understand their involvement in decentralized networks.The court extended the SEC’s deadline for disclosing its internal crypto trading policies to Aug. 31, 2021.
However, the decision was not entirely in the industry’s favor because Ripple was found to have broken the securities laws when it offered XRP to hedge funds and other institutional buyers.It is a partial victory for both parties in the SEC vs. Ripple lawsuit. Torres concluded that the $728.9 million in XRP sales made by the business to hedge funds and other institutional customers constituted unregistered sales of securities, giving the SEC a partial victory.
According to Torres, Ripple actively targeted institutional investors with its marketing, highlighting that the business endorsed a speculative value thesis for XRP. This proposition was subject to Ripple continuing to improve the blockchain infrastructure underpinning the digital asset. The legal process will probably continue with more proceedings following the SEC’s partial victory in the XRP suit. Ripple may appeal the judgment or add new justifications for its disagreement with the court’s ruling.
Alternatively, it could suggest a settlement with the SEC to resolve the outstanding issues. Overall, the verdict in the lawsuit might have wider ramifications for how cryptocurrencies and other digital assets are regulated. It might serve as a model for how similar regulatory proceedings against crypto firms can be handled in the future.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC could be waiting ‘years’ to file appeal in Ripple case — Brad GarlinghouseIt might take years for the SEC to appeal the ruling the Ripple case. According to CEO Brad Garlinghouse, the filing of an appeal would “only further” solidify Judge Torres decision that XRP is not a security. 🥳
Read more »
Ripple and XRP Triumph May Be Cut Short on Appeal, Thinks SEC VeteranFormer SEC director anticipates Ripple and XRP court victory to face challenges on appeal xrparmy xrpcommunity xrpl xrpledger xrpthestandart ripple ripplesec $xrp
Read more »
Ripple's Victory Over SEC Is a Win for the Entire Crypto Space, Says Brad GarlinghouseGarlinghouse also asserted that US Congress should pay attention to the judge's ruling.
Read more »
Ripple decision is 'troublesome on multiple fronts', says former SEC officialThe Ripple decision 'resides on shaky ground, [and] is likely (and ripe) for appeal,' believes former SEC official John Reed Stark.
Read more »
Ripple case: SEC appeal unlikely as it gains from 'current confusion' — Haun Ventures CEOThe SEC may be holding back from an immediate appeal in order to benefit from uncertainty and “confusion” in the industry, according to a former federal prosecutor turned crypto venture capital founder.
Read more »
Ripple says U.S. banks will want to use XRP cryptocurrency after partial victory in SEC fightRipple is confident U.S. banks will want to use its XRP cryptocurrency for cross-border transactions after a judge gave it a partial victory over the SEC.
Read more »