A U.S. court ruling partly in Ripple’s favor may augur well for other crypto firms fighting litigation from SECGov – if the decision survives potential appeal. Analysis by iamsandali
certain sales and distributions of XRP tokens by Ripple and its executives were not investment contracts“This is a significant opinion that has the potential to change the landscape of the SEC’s enforcement efforts, or the success of those efforts,” said Teresa Goody Guillén, a former attorney with the SEC office of the general counsel, and now a partner with law firm BakerHostetler.
According to Castelluccio, the portions of the decision that are in Ripple’s favor are “fairly fact-specific, and while there may be some that are similarly situated in the market, others in the market may find it challenging to rely on those portions of the decision if their circumstances do not directly align.”
Congratulations and cries of “LFG” – internet slang for “onward and upward,” at least in the G-rated translation – poured in as CEO Brad Garlinghouse tweeted Ripple was “on the right side of the law, and will be on the right side of history.”"There’s no way to look at the Ripple decision as anything but a win for the crypto industry.
In addition to sales of XRP on exchanges, other distributions including to employees, and sales of the token by executives Garlinghouse and co-founder Christian Larsen were also ruled not securities.
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