Yesterday Judge Torres ruled in the Southern New York District court that some sales of the XRP crypto token by Ripple were classified as securities and some sales were not. The Judge’s arguments seem reasonable, but after first reading the ruling, I intuitively found it inconsistent.
I want to explore why its troublesome from a logical rather than a legal perspective (I’m not a lawyer). Most legal findings start with a rationale and provide case law to support their arguments.
The XRP sold to institutions is fungible with – the same as – the XRP sold to retail investors. So while the Torres logic is sound, shouldn’t the ruling find that XRP is either or a security or it isn’t, universally.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
