As a seasoned crypto investor with a keen interest in the regulatory landscape, I’ve followed the Ripple case closely. My personal experience has taught me that this industry is ever-evolving, and the line between securities and non-securities can sometimes be blurred.
The Securities and Exchange Commission (SEC) accuses Ripple of raising over $1.3 billion by selling XRP tokens, which the SEC believes are unregistered securities. According to the SEC, Rippe’s XRP sales, specifically the $728.9 million in institutional sales, created an expectation that investors would make profits from Ripple’s efforts to expand the XRP marketplace.
As a researcher, I’ve come across an intriguing court ruling from the U.S. District Court for the Southern District of New York regarding Ripple’s XRP token. In a closely contested decision, the court determined that XRP was indeed a security when transacted between Ripple and institutional investors. However, it was not deemed a security when sold on crypto exchanges to the broader public.
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2024-05-13 10:02