In a groundbreaking decision earlier this month, the Southern District Court of New York determined that institutional sales of XRP conducted directly by Ripple constitute securities sales. However, intriguingly, XRP sales on secondary markets, specifically crypto exchanges, do not. A verdict that has sparked a ripple, pun intended, in the crypto space, potentially creating waves of disarray for the U.S. Securities and Exchange Commission (SEC).
The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com.
This legal ruling re-echoes the content of the now-infamous 2018 Hinman speech, a speech that the SEC passionately endeavored to keep out of the Ripple case’s evidentiary repertoire. This is the same speech whose author, Hinman, was meticulously wiped off the SEC’s official website in June 2023, much to the bemusement and consternation of the crypto community. The echo from Hinman’s 2018 address rings louder in the SEC’s now empty corridors.
We współpracy z: https://news.bitcoin.com/decoding-ripples-ruling-a-potential-tsunami-for-the-sec/
