Judge gives Ripple partial win in SEC case over XRP cryptocurrency

Re:Judge gives Ripple partial win in SEC case over XRP crypt... by DennisP on Thursday July 13, 2023 @04:12PM (#36715285)

The judge referenced the Howey case, saying that just because you have an investment contract involving an orange grove, that doesn't mean the orange grove itself is a security. A security is a contract, not just anything that people trade around in a speculative way.

William Hinman of the SEC said much the same thing in 2018: https://www.sec.gov/news/speech/speech-hinman-061418

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Re:Judge gives Ripple partial win in SEC case over XRP crypt... by yata69420 on Thursday July 13, 2023 @06:04PM (#36716726)

This is pretty obviously the reasonable take.

> A security is a contract, not just anything that people trade around in a speculative way.

The scary thing IMO is that I think if you had enough big money trading bottlecaps or baseball cards, you'd quickly find them being considered a security.

But words have to mean something. Things can't just be a "security" because they make the government feel insecure.

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Re:Judge gives Ripple partial win in SEC case over XRP crypt... by DennisP on Thursday July 13, 2023 @06:21PM (#36716931)

Enormous money trades soybeans but they still aren't securities.

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Re:Judge gives Ripple partial win in SEC case over XRP crypt... by pcthrowaway on Thursday July 13, 2023 @09:14PM (#36718255)

I wonder if this will have an impact on non-native tokens (which are implemented with smart contracts)

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