XRP Ruling: What You Need to Know
- A judge has ruled that most sales of XRP, the cryptocurrency issued by Ripple, do not constitute securities transactions.
- Institutional sales of XRP were deemed securities transactions, while programmatic sales and employee payouts using XRP were not.
- Ripple co-founders’ sales of XRP were also not considered securities transactions.
- The ruling could have implications for other cryptocurrencies like Cardano, Solana, and Polygon.
- Crypto exchanges are already showing interest in relisting XRP after the ruling.
Hot Take: XRP Ruling Sets Precedent for Crypto Issuers
The recent ruling that most sales of XRP are not securities transactions is a significant win for Ripple and could set a precedent for other crypto issuers in the United States. The judge’s decision distinguishes between institutional sales, which were considered securities transactions, and programmatic sales and employee payouts using XRP, which were not. This ruling could have implications for other cryptocurrencies that have faced scrutiny from the SEC, such as Cardano, Solana, and Polygon. Additionally, crypto exchanges like Gemini are already considering relisting XRP following the ruling. Overall, this ruling provides clarity on the legal standing of XRP and may shape the future regulatory landscape for cryptocurrencies.
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