Legal and crypto analysts are providing further insights into Judge Analisa Torres’ ruling in the SEC v. Ripple case. In a Twitter thread, David Barrera, co-founder and CEO of Enumma, clarified that many people have been misrepresenting the judge’s ruling regarding the security status of XRP. Barrera noted that Judge Torres did not rule that “XRP itself is not a security” or that “XRP is not an instrument that embodies an interest in the scheme.” He explained that the judge said XRP, in and of itself, is not a scheme that embodies all the requirements of Howey. Furthermore, Barrera said the Howey test did not address the question of what constitutes the sale of security. Interestingly, Ripple’s CTO David “JoelKatz” Schwartz responded to Barrera’s remark, emphasizing that since the legal definition of a sale contains security in several places, it is imperative to apply the statutory definition of security to determine a sale.
Next, Ripple’s Vice President of Central Bank Engagements and CBDCs, James Wallis, has revealed that Ripple is in talks with over 30 countries to adopt its CBDC platform. Ripple has already publicly announced partnerships with five countries and is discreetly working with another five on similar ventures. The global scale of this endeavor underscores the potential for Ripple’s CBDC platform to revolutionize the global financial landscape as more countries join the network.
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