- Experts highlighted critical issues in the handling of Ripple’s case against the SEC.
- According to the experts, the July decision has triggered notable developments that may impact pending cases.
- Judge Torres ruled that Ripple’s sales of XRP through secondary trading platforms did not constitute securities transactions.
Web3 experts have highlighted the procedural and factual differences between the handling of Ripple’s case against the Securities and Exchange Commission (SEC) and the Terraform case, as well as the limitations of the Howey Test.
In a recently published article, Alex Drylewski, co-head of Skadden, Arps, Slate, Meagher & Flom Web3 and digital assets group, Daniel Michael, co-head of the firm’s Web3 and digital assets group, and Spurthi Jonnalagadda, an associate in the firm’s white collar defense and investigations group, published an article highlighting these differences.
According to the experts, the July decision by Judge Analisa Torres, a U.S. Judge of the Southern District of New York, has triggered two notable developments that may impact other pending digital asset secondary trading cases. For context, Judge Torres ruled …
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