The SEC backed down in the Ripple case, but the industry remains in the dark on key legal questions and a “bad actor disqualification” stays.
Ripple has emerged (mostly) victorious from its long-running battle with the Securities and Exchange Commission, but for legal experts, the cases conclusion feels like a missed opportunity.
Since the case didnt advance to a higher court, Judge Analisa Torres original district court decision which famously differentiated between XRP sales to institutional investors and those on exchanges has not established a binding precedent.
For the wider industry, the cases murky status leaves companies struggling with unanswered questions: How should token offerings be structured? What legal weight does Torres decision really carry? And what happens now that the SEC seems to be pivoting away from enforcement-heavy tactics?
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