Payment services company Ripple Labs (XRP) has described its partial victory in the SEC lawsuit as a prelude to US crypto regulation.
In a post on its official website on July 19, Ripple stated that its relationship with the SEC last week. unregistered sale of securities He talked about the XRP decisions taken in the case and the details of the litigation process.
Since the beginning of this lawsuit filed by the SEC, the company has baseless However, in the current situation, XRP is considered as a security. that you are not With court decision has been finalized told.
Last week’s ruling makes it clear that the SEC’s misguided theory has no support in law.
Ripple CEO Brad Garlinghouse case from the very beginning. right soon as they reiterate their rhetoric that they are on their side of the US Congress on cryptocurrency industry regulation to take action and to the industry clear rules to bring what you hope stated.
While Ripple stated that it was decided in the court that the status of being a security changed according to the way XRP was sold, the company’s Chief Legal Officer Stuart Alderoty, of this decision, cryptocurrencies in the USA how it is classified related to profound results He emphasized that he would.
According to the court decision, the company is a stand-alone XRP not considered securities but to institutional investors the sales process securities into the classification reported that he had entered. In this context, according to the decision:
- of Ripple in the stock markets XRP sales
- Ripple by managers XRP sales made
- of Ripple employees, charities And to developers made of your distributions
securities transaction not counted attention was drawn.
Ripple also said that XRP is not a security. apparent while implying that Japan, Switzerland, UAE And in England He stated that many countries, including Turkey, had taken decisions in this direction long ago.
Besides these Coinbase, Kraken, Gemini And Bitstamp XRP because they are unsure of its legal status, such as delist existence of stock markets again It was noted that it was included in the lists.
On the other hand, the company legitimacy world last June to prove -most tough known as one of the regulators From the Monetary Authority of Singapore (MAS) Major Paying Institution (MPI) for license approval in principle reminded me of it.
Coinecko according to data 30 days in 66.9% appreciated XRP, end 24 hours in 0.1% as of writing by experiencing the rise 0.807 traded at the dollar level.