XRP is booming after Judge Analisa Torres’s ruling on Thursday that most sales of the Ripple-issued cryptocurrency do not constitute securities transactions.
According to Torres, institutional sales satisfied every prong of the Howey Test, meaning there was 1) an investment of money; 2) in a common enterprise; 3) with an expectation of profits; 4) based on the efforts of others.“The nature of the Institutional Sales also supports the conclusion that Ripple sold XRP as an investment rather than for consumptive use,” the judge wrote.
Furthermore, payouts to employees using XRP were not investment contracts because they did not involve an investment of money to begin with.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ripple’s XRP Token Surges 28% After Court Rules XRP Sales Aren’t Investment ContractsRipple’s XRP token surges 28% after the District Court for the Southern District of New York rules XRP sales aren’t investment contracts. reporting
Source: CoinDesk - 🏆 291. / 63 Read more »
Ripple’s XRP token was a security sometimes, a judge rulesA court ruling finds that institutional sales by Ripple were, in fact, unregistered securities. But sales by algorithms and through exchanges weren’t.
Source: verge - 🏆 94. / 67 Read more »
Sale of XRP on Exchanges Not Investment Contracts, Court Rules in SEC Case Against RippleBREAKING: A New York court has judged Ripple's sale of XRP on exchanges did not constitute investment contracts in order partially granting a motion for summary judgment in SECGov case. iamsandali reports
Source: CoinDesk - 🏆 291. / 63 Read more »
Ripple's XRP token surges 28% as court issues ruling, sends case to trialXRP token rose precipitously, rising more than 25%.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Ripple v. SEC: XRP Dominates Crypto Market With Soaring Value as Verdict LoomsAnticipation of imminent ruling in SEC v. Ripple legal battle puts XRP up top by volume xrparmy xrpcommunity xrpl xrpledger xrpthestandart ripple ripplesec $xrp
Source: Utoday_en - 🏆 295. / 63 Read more »
US Judge Rules XRP 'Not Necessarily a Security on Its Face,' Sending XRP Supporters Into Celebration – Bitcoin NewsThe order from U.S. judge Analisa Torres states that the court cannot conclude that XRP is a security as a matter of law.
Source: BTCTN - 🏆 531. / 51 Read more »