In a most unexpected turn of events, the U.S. SEC has decided to drop its appeal in the protracted legal saga with Ripple, thus concluding a four-year odyssey that could rival the length of a particularly tedious novel. Yet, in a twist worthy of a farce, the SEC has yet to confirm this latest development. The chatter surrounding XRP‘s fate is as lively as a dinner party gone awry, with experts speculating whether Ripple might soon be free to sell XRP to institutional investors without a care in the world. But hold your horses! Marc Fagel, a former SEC lawyer, has stepped in to rain on this parade with a rather sobering assessment.
What Fagel Says About XRP Sales
Fagel, with the air of a man who has seen too many legal dramas unfold, pointed out that even if the SEC clears the injunction, the court’s original ruling remains as immutable as the laws of physics. The court had previously decreed that Ripple’s sales of XRP to institutional investors were, in fact, illegal. So, selling XRP in the same manner as before? Well, that would still be a no-go, my dear Watson.
He elaborated that the crux of the matter is not merely about specific contracts or agreements, but rather the manner in which Ripple peddled XRP to institutional investors. The court had determined that these sales rendered XRP an unregistered security, which means that any future sales conducted in a similar fashion could still land Ripple in hot water. And we all know how much Ripple enjoys a good legal scalding.
Room for Legal Flexibility
Despite the looming specter of legal entanglements, Fagel did mention that not all sales to institutional investors would necessitate registration. Some might slip through the cracks under special exemptions, much like a cat burglar in the night. It all hinges on the minutiae of the transactions and whether they bear any resemblance to the previously condemned sales.
However, in a delightful twist of fate, Fagel noted that the SEC has recently adopted a rather laissez-faire attitude towards regulating the crypto market. This could mean that Ripple might not face the full brunt of legal repercussions for its future XRP sales, even if they bear a striking resemblance to their predecessors.
What’s Next for Ripple and XRP?
As for Ripple, Fagel advised that the company’s legal team must tread carefully when contemplating future sales. If they choose to replicate the same pattern as before, they could find themselves in a legal quagmire. But with the SEC seemingly distracted by shinier objects, Ripple may just find a way to navigate these waters with fewer legal concerns than one might expect.
Will Judge Torres Clarify the Ruling?
In a final flourish, some have pondered whether Judge Torres might provide further clarity on the previous XRP sales to institutional investors. Fagel, ever the realist, believes she likely won’t. The judge has already made her pronouncement, and Ripple is expected to request the complete removal of the injunction. However, Fagel suspects there’s little chance the judge will alter her ruling, as she has previously shown a reluctance to elaborate further. After all, why make things clearer when you can leave everyone in delightful confusion?
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2025-03-28 12:37