Hello Publish0x, I have been busy and coming back from a bit of a hiatus.
What better way than to address the massive **Ripple** effect coming from Judge Sarah Netburn of the US District Court, Southern District.
*sigh* Even to me that was a brutally lame pun. Quick synopsis, this case by former investors of Ripple claiming they were misled by XRP the parent company of the Ripple token as to its nature as a security which drew in the SEC claiming this was fraudulent because it was improperly advertised in its investment opportunity.
Bottom Line? SEC wants in on regulating crypto and felt Ripple was a great chance to do that. Surprise, surprise, Ripple won this round!
Okay, takeaways
1). Ripple can and cannot be considered a security based upon whether the investors were retail through exchanges or institutional investors. This is NOT how the SEC views Ripple and ultimately a win for the crypto guys
2). The Judge also said that Ripple's offerings should not be viewed as investment contracts - not what the SEC was hoping for
3) The ruling that seems to hand a win to the pro Ripple crowd will undoubtedly be appealed. So, yes we should be excited now but hold our breaths for the final meeting and possible settlement of this case. A warning, the appeals process even after that meeting 6-8 weeks from now (per the Judge's recommendation) can take some serious time.
It goes without saying that Ripple has some seriously interesting positives as a crypto token; a transaction process time measured in seconds not minutes, and an energy usage of a miniscule amount compared to a traditional token like ethereum (Oh, the gas fees *shudder).
Aright that's all I get, until next time.
As always,
Hope your time was wellspent!
-Rom
Sources:
1)
2)
https://www.forbes.com/advisor/investing/cryptocurrency/what-is-ripple-xrp/
3)
https://www.ibtimes.com/sec-vs-ripple-case-lawyers-weigh-over-talks-possible-case-settlement-3705614
