The post Polygon CLO Says Coinbase vs. SEC Case Is Very Far From the Decision appeared first on Coinpedia Fintech News
Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs, has shared insights about recent actions by the U.S. Securities and Exchange Commission (SEC) and their implications for the industry.
Last month, Judge Analisa Torres ruled that institutional XRP sales were deemed securities transactions, excluding secondary market sales. She clarified that XRP itself did not violate securities laws. The SEC intends to challenge this decision, emphasizing that different courts might hold varying perspectives.
During a recent podcast, Rebecca explained, “Both the Ripple and Coinbase motions for judgment on the pleadings aim to emphasize a return to legal fundamentals. The situation may appear novel, but it diverges from existing paradigms. Therefore, we cannot simply import notions of implied contracts into the definition of an investment contract.”
In June, the SEC fi
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