[US judge rules: Crypto tokens are not natural securities]

A US judge recently made a clear ruling on the legal status of cryptocurrency tokens, emphasizing that the tokens themselves are not naturally securities. This view has been reflected in cases involving Ripple, Kraken, and Binance, despite the SEC's attempts to classify these tokens as securities. Spot Contract Junyang👉@点这里 加密乘风

In the SEC's case against Ripple, Judge Torres pointed out that Ripple's digital token XRP does not meet the investment contract standards defined in the "Howey Test" and is therefore not naturally a security. This highlights the difference between the token itself and the token sale.

In the case involving Payward Inc. (Kraken), Judge Orrick also emphasized this distinction, explicitly stating that cryptocurrency tokens are not securities in nature and the SEC's claim is legally invalid. This shows that the way in which the token is sold or promoted is crucial to determining its legal status.

In the Binance case, Judge Jackson rejected the SEC's "embodiment theory", stating that while the token may involve an investment contract, the token itself is not a security.

Together, these rulings emphasize that context must be considered when applying securities laws to cryptocurrency tokens. While transactions may be regulated, the tokens themselves do not automatically fall into the category of securities. This distinction has important implications for the debate over how to regulate cryptocurrencies in the United States. #Telegram创始人获保释 #英伟达财报 #OpenSea收到韦尔斯通知 #以太坊基金会 #新币挖矿DOGS