Crypto Update | XRP Ruling Does Nothing For Regulatory Clarity
Markets Outlook
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Ripple's XRP Token Is a Security
The U.S. District Court of the Southern District of New York ruled Thursday that Ripple's XRP tokens on exchanges and through algorithms did not constitute investment contracts. The court added that the institutional sale of the tokens did violate federal securities laws. Early reads from legal experts suggest the ruling falls short of settling the question of whether and under what circumstances a digital asset meets the definition of a security under U.s. law.
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