US law protects institutions and exposes retail investors — Rep. Torres By Cointelegraph
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On July 13, 2023, United States District Court Judge Analisa Torres ruled that Ripple’s XRP (XRP) token should not be considered a security when sold on retail digital asset exchanges.
Stuart Alderoty, chief legal officer at , told Cointelegraph that last week’s ruling makes it clear that the U.S. Securities and Exchange Commission’s (SEC) theory that a token can be an investment contract and, therefore, a security, no longer has support in the law.
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© Reuters
On July 13, 2023, United States District Court Judge Analisa Torres ruled that Ripple’s XRP (XRP) token should not be considered a security when sold on retail digital asset exchanges.
Stuart Alderoty, chief legal officer at , told Cointelegraph that last week’s ruling makes it clear that the U.S. Securities and Exchange Commission’s (SEC) theory that a token can be an investment contract and, therefore, a security, no longer has support in the law.
Continue Reading on Coin Telegraph
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