SEC v. Ripple’s Programmatic Sales Ruling Paves the Way for Public Token Exchange
Too Long; Didn’t Read
Judge Torres’s ruling carries significant implications for the blockchain industry, specifically with regard to Ripple’s Programmatic Sales.
The court’s decision and analysis regarding Ripple’s public sales arguably blesses all public exchange sales of cryptocurrencies as non-securities under Howey.
Additionally, the SEC’s separate allegations, suggesting that Coinbase acted as an unregistered exchange for securities, should not survive following this decision.
Specifically, the court’s decision raises a question as to whether any of the other tokens listed on Coinbase (or any other exchange), which could be considered programmatic “blind sales,” would fall under securities regulations.
Too Long; Didn’t Read
Judge Torres’s ruling carries significant implications for the blockchain industry, specifically with regard to Ripple’s Programmatic Sales.
The court’s decision and analysis regarding Ripple’s public sales arguably blesses all public exchange sales of cryptocurrencies as non-securities under Howey.
Additionally, the SEC’s separate allegations, suggesting that Coinbase acted as an unregistered exchange for securities, should not survive following this decision.
Specifically, the court’s decision raises a question as to whether any of the other tokens listed on Coinbase (or any other exchange), which could be considered programmatic “blind sales,” would fall under securities regulations.
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