This decision came after Judge Phyllis Hamilton of the California District Court denied Ripple’s request for summary judgment in a case involving allegations that its CEO, Brad Garlinghouse, violated California securities laws.The allegations focus on claims that the exec made “misleading statements” about XRP’s status during a televised interview while at the same time expressing skepticism about the utility of other digital assets.
However, Hamilton took a different stance in her recent order and instead determined that XRP could potentially be classified as a security when sold to individual investors, as opposed to institutional ones.
Source: Law Daily Report (lawdailyreport.net)
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