Federal court rules Ripple's XRP token can be treated as a security… sometimes
The saga of Ripple Labs, the XRP token and whether the sale of its crypto token constituted a securities law violation in the U.S. advanced today. In a ruling from the U.S. District Court of the Southern District of New York, Judge Analisa Torres gave a nuanced view on the matter. In summary, after examining several different sales methods of the XRP token over time, and applying the Howey Test to each, the district judge approved the SEC’s motion for summary judgment with regard to the institutional sale by Ripple of the XRP token.
Source: yahoo.com
