The legal debate on whether cryptocurrencies are subject to SEC rules just got more complicated
Where one federal judge gave the crypto industry reason to cheer last month, another brought down the gavel through a contradictory ruling on Monday.
In allowing the case to continue, Rakoff rejected a July 13 decision related to crypto firm Ripple, which similarly was sued for itstoken. There, District Judge Analisa Torres determined that the coin was not a security when sold in a secondary market.
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