Saga Unfolds as Ripple Still Has Some Open Issues with SEC

Saga Unfolds as Ripple Still Has Some Open Issues with SEC

Maybe XRP cannot be classified as a security anymore. Max Rich, deputy counsel at the crowdfunding platform Republic says the SEC will use the DAO debacle that happened in the summer of 2016, as the cut-off point.

Ripple, the company that stands behind XRP, has definitely positioned itself strongly during the last few months as one of the most important companies for the crypto sector as well as the whole blockchain technologies scene. It may be too late for XRP to be classed as a security.

At least that’s the opinion of two independent legal experts who have explained to Crypto Briefing that any regulatory clarity gained would be far outweighed by costs or even the negative effects it would have on the sector.

Max Rich, deputy counsel at the crowdfunding platform Republic, thought it was unlikely the SEC would compel Ripple Labs to reimburse investors. He believed authorities would crack down on ICO projects that were based on the proposition of selling unregistered securities.

XRP token sale which took place in mid-2013, however, seems to be excluded. After all, it happened such a long time beforehand.

 

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