A number of cryptocurrency exchanges are reopening trading for XRP after a mixed ruling from a U.S. federal judge on the ongoing legal battle between the securities regulator and Ripple.
ruled yesterday that some of its sales of XRP did not fully meet the definition of a securities offering, she also stated that Ripple’s sales to institutional buyers were unlawful securities sales.
“Admittedly, in the wake of many exchanges’ woes, the listing and trading of a token that was characterized as 'not a security' seem reasonable,” d'Anethan added. “Exchanges profit from the volatility and hype surrounding coins, as greed and fear create more opportunities for transaction volume and fees,” Yang added. “Exchanges and participants may be overly optimistic, but the potential return from reopening outweighs the risk of lawsuits and fines due to the perceived success of Ripple.”
He continued, “The SEC has brought over 100 enforcement crypto actions on the basis that different tokens were securities, many of these ended in settlement. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.
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