We’re getting some clarity here!
Torres ruled that Ripple’s XRP sales on public cryptocurrency exchanges were not offers of securities under the law, because purchasers did not have a reasonable expectation of profit tied to Ripple’s efforts. The money quote:
Those sales were “blind bid/ask transactions,” she said, in which the buyers “could not have known if their payments of money went to Ripple, or any other seller of XRP.”
XRP sales on cryptocurrency platforms by Ripple CEO Brad Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled.
Ripple price doubles in a matter of hours, so far, and can keep going:
