2024

Northern

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
In a recent legal development,&nbsp;<a href="https://u.today/ripple-cto-joins-xrp-community-in-intriguing-debate-what-happened">Ripple</a> scored a significant victory with the dismissal of most claims in a class action lawsuit regarding XRP. Judge's decision in the Court for the Northern District of California narrowed the case to a minor state law claim related to allegedly misleading statements.
The focal point of the ongoing debate is whether XRP should be classified as a security. While Californian ruling is a win for Ripple, it is suggested that XRP could potentially be considered a security under certain circumstances. This stance contrasts with Judge Torres' earlier ruling in New York that XRP does not qualify as a security when sold to institutional investors.
<blockquote>
 But didn't California just adopt Howey as its own analysis in determining whether a transaction is a security under its state law definition in Corp. Code section 25019?— Fred Rispoli (@freddyriz) <a href="https://twitter.com/freddyriz/status/1807176018626789824?ref_src=twsrc%5Etfw">June 29, 2024</a>
</blockquote> 
Legal experts&nbsp;<a href="https://x.com/freddyriz/status/1807142465541128365">Fred Rispoli</a> and Marc Fagel have weighed in on the implications of these developments. Rispoli, a staunch supporter of XRP, highlighted the potential impact of California law on the definition of securities in light of the court's interpretation.
Meanwhile, Fagel, drawing on his&nbsp;<a href="https://u.today/ripple-ruling-boosts-binance-in-sec-showdown-crypto-community-reacts">SEC</a> experience, noted the nuanced federal and state considerations in determining whether XRP transactions fall under securities regulation.
"The court's decision leaves open the possibility that&nbsp;<a href="https://u.today/ripple-cto-joins-xrp-community-in-intriguing-debate-what-happened">XRP</a> could be classified as a security under California law, if not federal law," Rispoli noted in response to the ruling.
Fagel disagreed, emphasizing that while California's adoption of federal standards such as the Howey test influences local interpretations, the broader implications for federal courts seeking guidance remain limited.

Is XRP Security? SEC Veteran and XRP Advocate Sort Out

U_Today

发布于 2024年6月30日的其他文章

Cryptocurrency Market Faces Uncertainty as Week Ends

Trump Vs Biden: Mark Cuban and ChatGPT Predicts Best Pick For President

Ethereum (ETH) Gas Fees Plummet To Historic Lows: Can The Network Broaden Its Appeal?

FLORK BNB: A Memecoin Built With A Community Spirit On BSC

SEC Targets Binance Staking In Lawsuit, BNB Up Despite Uncertainty

Toncoin Eyes Bullish Continuation: Support Trendline Holds the Key

订阅我们免费的电子期刊，获取每日最新加密领域动态！