of the long-awaited court battle between Ripple and the US Securities and Exchanges Commission . In its final ruling, the Judge declared that XRP did not constitute the sale and offer of an investment contract.
However, the court did also rule that the institutional sale, XRP sold directly to institutional buyers and other investors, breached the federal securities law. The next phase of this case will see both parties presenting their arguments in a trial court. The date for the same would be determined in a separate order, along with the pre-trial deadlines.
Coinbase, another leading American exchange, immediately announced that it would suspend trading of XRP, and eventuallyit earlier this year citing low usage. Other exchanges included Crypto.com, OKCoin, Bitstamp, Gemini, and even a crypto fund manager – Bitwise Asset Management.
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Source: CryptoAmb - 🏆 22. / 68 Read more »