Cryptocurrency

Inside The ‘Landmark’ SEC vs. Ripple Ruling That Led To XRP And Coinbase Surge



Ripple Labs Inc. won what looks like a partial victory in the suit against it by the Securities and Exchange Commission, sending cryptocurrency prices sharply higher, as Judge Analisa Torres ruled that some cryptocurrency transactions do not count as securities sales. Although the district court decision is not binding elsewhere, it does indicate that the SEC’s insistence that most digital assets are securities that should be registered–which is impossible to do under current regulations–can be successfully challenged. Forbes director of research for digital assets Steven Ehrlich joins Brittany Lewis to discuss.

Read the full story on Forbes: https://www.forbes.com/sites/stevenehrlich/2023/07/13/crypto-prices-surge-on-favorable-as-investors-take-favorable-view-of-ripple-ruling/

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23 Comments

  1. David Goodnow

    Now we need to dig in to the FTC, SEC, and their connection to FTX and banks that have already started handling Crypto accounts, like the one that was forced to be absorbed by Chase.

  2. David Goodnow

    Has anyone pointed out to the SEC that money is not a security, even though it may be used as such?

    Think of foreign currency transactions. According to the SEC's legal argument, all foreign currencies would become securities!

    The whole point of Bitcoin is that it is money, a mechanism to facilitate exchange of *all currencies, and all non-CBDC crypto can be used as such!

  6. ….typing

    SEC Gary golden Gensler should get an independent audit for inside trading plus waisting public TAX payers Money…. Plus he didn’t have the jurisdiction or legal right to take the exchanges to court!

  8. Rob Nicol

    Not very coherent in the point of view and broadly wrong. Tldr: XRP token is not a security however early sales directly to institutional buyers was. Any sale in the secondary market is not a security. So institutional investors can buy via exchanges without any problem just like everyone else. These “clever” people keep conflating the token with the company ripple and direct sales as apposed to secondary markets. The message then gets muddy and confusing.

  11. Philippine Cowboy

    I will break it down for all of you, the SEC lost big time regardless of what they said after summary judgement…………Fact: XRP is NOT a security on the secondary market, so that's a GREEN LIGHT for investors and for financial institutions to move forward. Load up while you still can, a $20+ XRP is coming!

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