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This is supposed to be pretty huge. Besides coinbase and others relisting XRP what changes should we expect to see in the short term?
and it doesnt really matter if institutional sales are unregistered securities because there are many registration exemptions to rely upon for sales to institutional
"partial" win!? It's hard to see what would be a "win" otherwise... It's going to have also larger implications - the SEC somehow manages to lose that one, it was hard to imagine or predict. If not even XRP is a security, there is truly no other coins which could be a security. Hate it or love it, but the SEC is simply going to lose all their other lawsuits EDIT: oh funny ... Reuters edited their title and removed "p…
Only appellate courts and higher set precedent. This is one ruling by one judge, means nothing for other cases.
Similarly, a judge in one circuit may look to the decision of a different circuit court when their own circuit has yet to rule on an issue.
This is IMO rather odd logic. I skimmed the opinion. If identical logic were applied to ordinary stock shares, it seems like it’s saying that shares in a C corp are securities if the C corp sells them to institutional investors, but that if the C corp sells the same shares by putting limit orders on a stock exchange (NASDAQ, for example) and Reddit-reading meme stock buyers buy them, then somehow the C corp didn’t ac…
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> But Torres ruled Ripple's XRP sales on public cryptocurrency exchanges were not offers of securities under the law, because purchasers did not have a reasonable expectation of profit tied to Ripple's efforts. > Those sales were "blind bid/ask transactions," she said, where the buyers "could not have known if their payments of money went to Ripple, or any other seller of XRP." I bet this gets overturned on appeal. I…
Not really, unless XRP is a share of a company (it's not) and promises dividends (it doesn't), there's no expectation of profit by purchasers of XRP. Profits from speculation is not the same as profits from business activities. People purchase everything from bar codes (yes, 11 digit bar codes are a commodity with limited supply), to trailers, to collectible video games, to oil and minerals, precious metals, art, ant…