There’s a lot of people who don’t know about the SEC v. Ripple case. It’s been a legal case in the United States. A court in New York’s Southern District. The US Securities and Exchange Commission in 2020. (SEC) alleged that Ripple, the blockchain developer and creator of the XRP cryptocurrency token, raised more than $1.3 billion in 2013 by selling XRP in an unregistered security offering to investors.
1- XRP is not to be regarded as a security, according to the arguments put forward by Ripple on the basis of past comments from an SEC director.
2- 2 On July 13, 2023, the court found that XRP was not a security when sold to the public on an exchange, but it is when sold to institutional investors.
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Both parties were partially victorious—the SEC emerged with authority over sales to institutions, and exchanges can allow cryptocurrency trades as the decision supports the view that cryptocurrency transactions on exchanges are not securities transactions.
I’ve been watching this, I think there’s some sentiment that the SEC wants to put a damper on crypto profits, which I suspect wouldn’t actually be the case. What do these coins lose when they register as securities, I don’t actually know
Lawyers project Ripple to emerge as winners over the SEC in future appeals. I read it on CoinRabbit blog.