Uncertainty appears to continue in the recently concluded legal dispute between Ripple and the US Securities and Exchange Commission (SEC) over the status of XRP. Judge Analisa Torres’ decision angered both supporters and opponents of XRP. This article delves into the topic to provide a clear picture of what this statement means for XRP.
Legal information: XRP status is clarified
A recent discussion on a social platform brought Judge Torres’ decision back into the spotlight. User ScamDaddy brought up an interesting thread footnote commented on the unclear status of XRP. He cited court documents in which Judge Torres deemed XRP sales to institutional investors as unregistered securities. This led to a lively discussion among experts.
????????? This never ends, now that he has been proven wrong and xrp is not a security, he is trying to transform it so that it is not a security, but also not a commodity. ???? pic.twitter.com/IngaJ9klxD
-Sir. Huber???????????? (@Study time) November 12, 2023
Bill Morgan, a respected legal expert, participated this discussion with an illuminating vision. He emphasized that Judge Torres did not specifically describe XRP as a non-commodity in her ruling. Morgan explained that the judge focused on the nature of the transactions involving institutional buyers, rather than the nature of XRP itself. According to him, it is important to understand that the judge considered XRP separately from the transaction or sales plan. He emphasized that XRP is not a security in itself, but an independent asset that can be tangible and intangible.
He’s wrong. Clearly, Judge Torres treated this as a commodity when he ruled on the summary judgments. https://t.co/yJbMe2j3Od
– Bill Morgan (@Belisarius2020) November 12, 2023
Source: BTC Direct
Source link
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
