XRP court ruling: Former CFTC lawyer reveals the real meaning xrparmy xrpcommunity xrpl xrpledger xrpthestandart ripple $xrp
At the core of Selig's analysis lies a key distinction made by Judge Torres: XRP itself was not labeled as a security. Instead, the expert emphasizes that the court's ruling underscored that XRP, considered as computer code, shares traits with fungible commodities. However, the critical aspect is thatcan potentially be sold as part of a security, thereby subjecting it to securities laws under specific conditions.
Continue to hear commentators saying Judge Torres held that XRP is a security when sold to institutions and not a security when sold to retail. This is incorrect. Judge Torres held that XRP itself is not a security, but it can be sold as part of a security. /1Selig brings into focus the well-known"Howey test," which determines whether a contract, transaction or scheme qualifies as an investment contract, thereby falling within the scope of securities laws.
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