Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray – Preston J Byrne
On the second category of sales, programmatic sales, the Court found in Ripple’s favor, arguing that the third, “expectation of profits” prong of Howey was not met. “Ripple’s Programmatic Sales were blind bid/ask transactions,” the Court wrote, “and Programmatic Buyers could not have known if their payments of money went
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