Kind of. Ripple was found to be selling a security to the institutions. The secondary market was ruled not to be a security though and that is how most investors got their XRP.
The token in and of itself is not a security though.
or scheme that embodies the Howey requirements of an investment contract.
Rather, the Court examines the totality of circumstances surrounding Defendants’ different transactions and schemes involving the sale and distribution of XRP. 2/2
Kind of. Ripple was found to be selling a security to the institutions. The secondary market was ruled not to be a security though and that is how most investors got their XRP.
The token in and of itself is not a security though.
I mean that should be a rather bullish signal for all of crypto then right?
I take it as good news. If nothing else it sets a precedent for defense attorneys to use again Gensler.
So yeah I think this could be bullish but markets have a mind of their own.
yea, they're not.
judge said.. XRP token itself is not a security, but the transactions and schemes around trading it need to discuss.
The Judge: "XRP, as a digital token, is not in and of itself a contract, transaction,
(1/2)
or scheme that embodies the Howey requirements of an investment contract.
Rather, the Court examines the totality of circumstances surrounding Defendants’ different transactions and schemes involving the sale and distribution of XRP. 2/2