SEC Commissioner Acknowledges Misleading Evaluation of XRP Under the Howey Test
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Hester Peirce, a commissioner at the US Securities and Exchange Commission (SEC), has recently acknowledged that the SEC’s evaluation of XRP did not accurately reflect the results of the Howey Test. XRP and the Howey Test According to a statement from John Deaton, a lawyer and founder of CryptoLaw, the SEC failed to take into account each transaction individually and missed the fact that XRP meets the criteria for the “common enterprise” and “expectation of profits” aspects of the Howey test. Peirce stated that the SEC’s examination centred on the characteristics of the token, rather than the factors related to
Ripple Labs has filed an appeal, via a Form C, against the recent SEC ruling that classifies institutional sales of XRP as securities transactions, challenging the interpretation of the Howey test used to define investment contracts. All the details below. Ripple challenges the SEC with a Form C on the…
U.S. Securities and Exchange Commissioner (SEC) Hester Peirce has called for more enduring crypto regulations, urging lawmakers and regulators to establish clearer rules that remain consistent across different administrations. Speaking at the DC Blockchain Summit on March 26, Peirce emphasized the need for regulatory durability through formal rulemaking and congressional…