Legal Analysis of $XRP Steps Towards Greater Recognition
1. Previous ruling:
In a ruling issued on August 7, 2023, Judge Analisa Torres ruled that sales of XRP on secondary markets do not constitute sales of securities.
This ruling greatly strengthens Ripple's position, as it means that XRP can function as a legitimate currency rather than an investment vehicle, which is the main point that Ripple relies on in its defense.
2. Similarity to Ethereum:
There are claims that XRP and Ethereum share characteristics that make them not securities. In 2018, the SEC confirmed that Ethereum is not an investment vehicle, suggesting that there is a legal precedent that Ripple could build on.
3. Use of XRP in the market:
Ripple highlights the real-world use of XRP in cross-border payments and transfers.
In many cases, XRP has been used to facilitate financial transactions between banks and businesses, strengthening its position as a currency rather than an investment tool.
Practical evidence of XRP's use in everyday life could suggest that it is used as a medium of exchange.
4. Legal assurances:
Ripple's position is also strong due to the assertions made by legal experts that XRP is not an investment vehicle.
These experts point out that the properties of XRP make it different from traditional securities.
5. Community support:
The overwhelming support from the community and investors for Ripple and XRP shows that there is growing confidence in the project.
Community support could influence regulators and increase pressure on the SEC to reevaluate its position.
According to the analysis, these points reflect the current legal status of XRP and strengthen its position as a legitimate currency in the cryptocurrency market.
However, it is essential to follow developments in the case, as things may change as the legal proceedings progress.
What do you think? I will leave you a comment.
Note: This is not an investment recommendation, but a topic for discussion.
EmoOn