Crypto Crime Drops 65%, BTC & ETH Break Critical Barriers
• Judge Analisa Torres has ruled that Ripple’s Programmatic sales and XRP distributions did not constitute securities sales.
• XRP prices have surged 28% following the ruling.
• The court concluded that institutional XRP sales may meet the definition of an investment contract.
Judge Rules Ripple’s XRP Programmatic Sales Not Securities
Judge Analisa Torres has ruled that Ripple’s Programmatic sales and XRP distributions do not constitute securities sales, though institutional sales could meet that definition. This means that public buyers who were unaware of any statements linking the token’s price performance to the company’s performance are exempt from these regulations.
XRP Prices Surge Following Ruling
Following the ruling, XRP prices have surged 28%, showing a positive outlook for the cryptocurrency in light of this news. It is important to note, however, that while public buyers are exempt from these regulations, all XRP sales offered to institutional buyers do constitute an offer and sale of an investment contract.
Crypto Markets Booming After Historic Ruling
Crypto markets are booming after the historic ruling surrounding Ripple’s programmatic sales and distributions of its native token, XRP. This is evidenced by Bitcoin (BTC) and Ethereum (ETH) both breaking critical barriers at 31k and 2k respectively.
Binance Appoints New General Counsel Amid Legal Intensifying Troubles
To cope with intensifying legal troubles, Binance has appointed a new general counsel amid ongoing regulatory challenges in various countries around the world. Meanwhile, the IRS is investigating American crypto exodus to Puerto Rico as crime levels decline 65% in 2023 despite ransomware remaining prevalent in some areas.
CZ Denies Rumors Senior Executives Resigning
Changpeng Zhao (CZ), CEO of Binance, denies rumors senior executives resigning due to ongoing regulatory pressures on Binance operations worldwide. CZ further stresses his commitment to ensuring compliance throughout all facets of operations at Binance going forward.