The question of whether crypto is a security is still being worked out in courts with assets surging and sinking on recent rulings over the issue. Read on.
But there’s no question that the July 31 ruling in the Terraform case “reinjected” uncertainty for investors over the status of crypto tokens, said Gordon Grant, head of sales and trading at Genesis Global Trading.“Market price action seems to suggest it’s thrown a little bit of cold water on the initial enthusiasm” from the Ripple ruling, Grant said.
The Ripple decision “gave some hope to the crypto industry,” because Torres found that some conduct fell outside the scope of the securities laws, St. Laurent said. But Rakoff’s opinion is “pretty straight up the middle,” similar to other legal decisions in the space.Article content The competing views show that “the law is not clear and that you can have very smart judges landing in different places,” said Faryar Shirzad, the chief policy officer at Coinbase.
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Crypto surges and sinks as two New York judges diverge on whether it is a securityThe question of whether crypto is a security is still being worked out in courts with assets surging and sinking on recent rulings over the issue. Read on.
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