XRP deems 'decisive moment' but we're not out of the woods yet - Lawyers
The crypto community came together to celebrate the recent ruling on XRP's securities status, but lawyers warn there is has more than it seems.
Ripple Labs' split-decision victory against the US securities regulator is seen as a blow to the regulator's "war on crypto". p>
In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security, at least when sold to the general public.
The decision was met with a cheering outcry from XRP token holders and was accompanied by a massive price increase for the token, with industry heavyweights praising the decision as likely to assist crypto exchanges Coinbase and Binance in their respective pursuits.
Luke Martin, the founder of crypto investment firm Venture Coinist, noted that the "main component" of the U.S. Securities and Exchange Commission's (SEC) claim in its lawsuit against Binance and Coinbase is that they offered the sale of unregistered titles on their platforms.
After losing on this case in the XRP case, Martin believes this will be a blow to the SEC and its chairman, Gary Gensler.
He called the decision "unimaginably bullish" for the industry:
This new Ripple is more important than XRP...
Remember when the SEC launched an all-out attack on crypto a few months ago?
•Suing Binance for violating securities rules•Suing Coinbase for violating securities rules•Targeting 10-15 major altcoins as securities
Classify...
The crypto community came together to celebrate the recent ruling on XRP's securities status, but lawyers warn there is has more than it seems.
Ripple Labs' split-decision victory against the US securities regulator is seen as a blow to the regulator's "war on crypto". p>
In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security, at least when sold to the general public.
The decision was met with a cheering outcry from XRP token holders and was accompanied by a massive price increase for the token, with industry heavyweights praising the decision as likely to assist crypto exchanges Coinbase and Binance in their respective pursuits.
Luke Martin, the founder of crypto investment firm Venture Coinist, noted that the "main component" of the U.S. Securities and Exchange Commission's (SEC) claim in its lawsuit against Binance and Coinbase is that they offered the sale of unregistered titles on their platforms.
After losing on this case in the XRP case, Martin believes this will be a blow to the SEC and its chairman, Gary Gensler.
He called the decision "unimaginably bullish" for the industry:
This new Ripple is more important than XRP...
Remember when the SEC launched an all-out attack on crypto a few months ago?
•Suing Binance for violating securities rules•Suing Coinbase for violating securities rules•Targeting 10-15 major altcoins as securities
Classify...
What's Your Reaction?
