Knoqnoq Forum: Everything You Want to Discuss, Most Discussed in India
Search
Reply: 3

The court ruling confirms that Ripple does not own the XRP Ledger.

[Copy link]

849

Threads

337

Posts

110K

Credits

Forum Veteran

Rank: 8Rank: 8

Credits
13671
Post time 16-10-2023 07:08:51 | Show all posts |Read mode
Golden Finance reports that the New York Federal Court has rejected the motion by the U.S. SEC to appeal the ruling on Ripple, providing clear justification for the XRP Ledger (XRPL) and the native cryptocurrency XRP. Notable XRP enthusiast "24HRSCrypto" shared excerpts from the ruling, in which the judge emphasized that Ripple does not own the XRP Ledger (XRPL). According to the ruling, the SEC failed to provide evidence that the development of blockchain use cases constituted "tangible consideration to Ripple." The court pointed out that the July 13th ruling regarding Ripple's other distribution activities was based on applying the Howey test to the facts of the case. The court emphasized that the first provision of the Howey test requires an investment of funds. Applying this fact to the case, the court found that the recipients of the other distributions did not pay any funds to Ripple. The court believed that a significant portion of the other distributions consisted of grants to third parties as part of the efforts to develop XRPL and new XRP applications.
Reply

Use magic Report

58

Threads

1180

Posts

4469

Credits

Forum Veteran

Rank: 8Rank: 8

Credits
4469
Post time 16-10-2023 07:43:15 | Show all posts
The appeal was rejected.
Reply

Use magic Report

191

Threads

923

Posts

5951

Credits

Forum Veteran

Rank: 8Rank: 8

Credits
5951
Post time 16-10-2023 08:34:22 | Show all posts
The sharing can be considered very professional.
Reply

Use magic Report

104

Threads

1969

Posts

7723

Credits

Forum Veteran

Rank: 8Rank: 8

Credits
7723
Post time 16-10-2023 09:46:08 | Show all posts
I don't really understand this thing.
Reply

Use magic Report

You have to log in before you can reply Login | Register

Points Rules

Quick Reply To Top Return to the list