Judge sides with Ripple again, denies SEC appeal: Law Decoded

The regulator has been appealing against the court’s July decision, declaring that retail sales of the XRP token did not meet the legal definition of a security.

On Oct. 3, United States District Court Judge Analisa Torres rejected the U.S. Securities and Exchange Commission’s motion to appeal its loss against Ripple Labs, the company behind the XRP have set up a crypto-focused working group to deal with illicit crypto exchange activities.

The CSA reaffirmed that stablecoins “may constitute securities and/or derivatives,” which Canadian crypto exchanges are prohibited from trading. However, if issuers maintain an appropriate reserve of assets with a qualified custodian and crypto exchanges offering stablecoins make “certain information related to governance, operations, and reserve of assets publicly available,” then the CSA could allow those assets to be traded.

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