Legal Update: Major Development in SEC v. Ripple Case – Summary Judgment Decision Announced
Yesterday we received a decision on the cross motions for summary judgment in SEC v. Ripple. Full text of decision: https://storage.courtlistener.com/recap/gov.uscourts.nysd.551082/gov.uscourts.nysd.551082.874.0_2.pdf Judge Torres stated categorically that a token is not automatically an investment contract. The sale of tokens can be a security in certain circumstances, but two problem areas appear to have tipped strongly in…