Ripple XRP News: Will XRP’s Secondary Sales Determine the Future of Crypto Regulation?

The post Ripple XRP News: Will XRP’s Secondary Sales Determine the Future of Crypto Regulation? appeared first on Coinpedia Fintech News

The last leg hanging in the Ripple vs SEC case is the only factor that troubled the experts globally is the Secondary sale issue with XRP. Now since the final appeal re-appeal window is open for 60 days it has reignited discussions about whether secondary sales of XRP should be classified as securities.

This issue has taken center stage following the SEC’s recent Wells Notice against NFT marketplace Opensea, which alleges that certain non-fungible tokens (NFTs) may qualify as securities. 

Although Judge Torres did not explicitly rule on secondary sales in the Ripple case, she noted that a “programmatic buyer stood in the same shoes as a secondary market purchaser.”

Many have interpreted this statement as an acknowledgment that secondary sales are not securities.

Really. Kraken tried to rely on Torres’ decision on Ripple’s programmatic sales of XRP (including on the Kraken exchange) that the SEC didn’t satisfy the third prong of Howey. It didn’t help Kraken. Judge Orrick’s reasoning