Ripple’s XRP Ruling Does Nothing for Regulatory Clarity
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A long-awaited district judge’s ruling that some XRP token sales were not investment contracts will likely eventually lead to a bipartisan regulatory framework that is more favorable to the pro-crypto crowd in Congress, writes John Rizzo.
Ripple’s XRP was down 25% from its highest levels on Thursday.
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Coinbase and Binance have a new precedent to cite in court – if the decision survives potential appeal. That’s no sure thing, lawyers said.
A summary judgment partially in favor of payments network Ripple represents a milestone win for the crypto industry and provides legal clarity as to what does and doesn’t represent a security, J.P. Morgan wrote in a research note Friday.
The spike in trading activity came after a partial win in a lawsuit against the SEC.
Trading XRP on Binance.US began Friday.
The court’s decision should moderately de-risk the regulatory pressure on the crypto exchange’s stock, which is a significant overhang on the share price, the broker’s report said.