Experts: XRP ruling offers little clarity on crypto regulation
By 
Aaron Nicodemus2023-07-18T21:06:00
A federal judge ruled the digital asset token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission (SEC), a blow to the agency’s argument regarding the regulation of digital assets.
But experts believe the decision has not cleared the uncertainty that remains around the regulation of digital assets.
On Thursday, U.S. District Court Judge Analisa Torres ruled roughly half of the sale of approximately $1.3 billion worth of XRP by issuer Ripple Labs from 2012-20 did not violate securities law. She allowed the SEC to continue to pursue its allegation the sale of $728 million of XRP during that same period did violate the law.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumSEC-approved spot bitcoin ETFs come with unique compliance risks
The Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds will provide investors with the same access to bitcoin, bought for cash on the spot market, as they currently have to other investments—for better or worse.
-
PremiumCFTC commissioner floats pilot program for digital asset markets
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
-
News BriefSEC commissioners criticize order against transfer agent DST
The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.
More from Regulatory Policy
-
News BriefFinCEN drops BOI requirement for U.S. companies, persons
The U.S. Treasury Department’s Financial Crimes Enforcement Network issued a final interim rule that eliminates beneficial ownership information reporting obligations for U.S.-based companies and persons.
-
News BriefTrump picks Fed vice chair of supervision, aims to roll back 2023 bank protections
Federal Reserve Board member Michelle Bowman has been nominated as the board’s vice chair for supervision, a position that oversees regulation of the nation’s largest banks.
-
PremiumExperts: Companies ‘underestimate risk’ as first provisions of EU AI Act come into force
A European Union-wide ban on AI systems with “unacceptable” risk came into force on Feb. 2 as the first provisions of the EU’s AI Act took effect. Problems persist, however, over what the legislation requires and what corporate practices or uses of data may risk flouting the rules.