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 The sales of XRP tokens by blockchain company Ripple did not all constitute investment contracts, a New York court declared on Thursday. While the court found Ripple’s direct and algorithmic sales on exchanges legal, it determined that institutional sales violated federal securities laws. 
 The U.S. Securities and Exchange Commission (SEC) had accused Ripple and its executives, including CEO Brad Garlinghouse and co-founder Christian Larsen, of neglecting to register XRP as a security. 
 Upon the news, XRP’s price escalated by 24%. Responding to the mixed decision, Garlinghouse tweeted, “We said in Dec. 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the U.S. More to come.”
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US judge rules Ripple XRP is not a security

crypto.ro global

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