In a significant legal victory for Ripple, the Southern District of New York has ruled that the company’s programmatic sales and other distributions of XRP did not constitute an offer and sale of investment contracts. However, the court found that Ripple’s institutional sales of XRP did constitute an unregistered offer and sale of investment contracts in violation of Section 5 of the Securities Act. According to analyst Adam Cochran, the ruling is mostly excellent news for Ripple and XRP, providing greater regulatory clarity and paving the way for increased cryptocurrency adoption. The court found that sales to users via exchanges
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Author: coinmaker