I finally had the opportunity to review the outcome of the Ripple vs. SEC case. I’d like to share a few insights – please take them with a grain of salt:
- It appears that the SEC has categorized Ripple’s primary XRP sale to institutions as a security sale. Given the substantial amount of $700 million involved, the implications for Ripple and its executives are poised to be significant.
- It has become evident that the token itself is NOT deemed a security, particularly on secondary markets. This clarification brings more clarity to the regulatory landscape surrounding cryptocurrencies.
- I have been advocating for some time now that the situation resembles the Howey case, drawing an analogy to oranges. In this context, the contract represents the security, while the oranges themselves do not.
- From my perspective, this ruling represents a STRONG WIN for the Crypto Community and all Crypto Tokens. Furthermore, it stands as a significant victory for exchanges that facilitate the trading of these non-security tokens
- The implications for organizations, including Ripple and others that have conducted ICOs, will be interesting to observe. This ruling undoubtedly presents substantial challenges for them, warranting careful consideration. All in all, as a crypto investor and CEO of the Cake Group & Bake, I can’t help but express my enthusiasm for this development. The clarity provided by the ruling paves the way for continued growth and innovation within the crypto industry. Hope this give you some insight. If you want XRP to be listed on Bake, like the following tweet!
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Julian
CEO Cake Group & Bake
