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Important ruling in SEC v. Ripple Labs: XRP's security status clarified. Last week, the court determined XRP itself isn't a security, examining the totality of its sale and distribution.
Institutional sales were deemed securities violations, while sales to the general public via algorithms and exchanges were not.
This decision raises questions about the dividing line between securities and non-securities. Implications include potential appeals, implications for enforcement actions, and exemptions.
Find out more in this insightful article by Allen & Overy, exploring the impact of the court's decision on the digital asset industry and its regulatory landscape - https://www.allenovery.com/en-gb/global/news-and-insights/publications/ripple-labs-long-awaited-decision-answers-some-questions-but-gives-rise-to-further-uncertainty
Thanks to our FinTech Connector Founding Member and Co-Head of Fintech & Blockchain Practice at Allen & Overy, Dario De Martino for sharing this client alert. Read more
Institutional sales were deemed securities violations, while sales to the general public via algorithms and exchanges were not.
This decision raises questions about the dividing line between securities and non-securities. Implications include potential appeals, implications for enforcement actions, and exemptions.
Find out more in this insightful article by Allen & Overy, exploring the impact of the court's decision on the digital asset industry and its regulatory landscape - https://www.allenovery.com/en-gb/global/news-and-insights/publications/ripple-labs-long-awaited-decision-answers-some-questions-but-gives-rise-to-further-uncertainty
Thanks to our FinTech Connector Founding Member and Co-Head of Fintech & Blockchain Practice at Allen & Overy, Dario De Martino for sharing this client alert. Read more
Ripple Labs: long-awaited decision answers some questions but gives rise to further unc...
In SEC v. Ripple Labs, the U.S. Securities and Exchange Commission (“SEC”) alleges that Ripple Labs, Inc. and two of its executives raised over $1....
1 comment
Steven W.
Jul 18, 2023 -10:10AM
I have some contacts at Ripple through the US Faster Payments Council. With this news, they said that they're getting very busy expanding the number of banks that they work with their underlying blockchain payments technology platform.
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