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by JeremyNT
1078 days ago
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> "partial" win!? It's hard to see what would be a "win" otherwise... It's going to have also larger implications - the SEC somehow manages to lose that one, it was hard to imagine or predict. If not even XRP is a security, there is truly no other coins which could be a security. This is explained in the article. It was good day for this crypto scam, but it wasn't all good news for them: > The ruling was also a partial victory for the SEC. The judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors, and that a trial should be held over its executives' role in those sales. Also: > Hate it or love it, but the SEC is simply going to lose all their other lawsuits Quite a bold statement there, based on a single ruling... |
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And a ruling on ripple, which from architectural standpoint is rather stretching the bounds of what is typically thought of as a cryptocurrency -it isnt mined or staked and the blockchain is even more of a pretend decentralization gimmick than the rest of the tokens out there. it's much more like corporate scrip controlled by a handful of bank-owned validator supernodes. In terms of ownership structure it's what Bitcoin would drift into over time if the lightning network actually becomes the predominant means of interacting with it.