Discussions Centered on Comparing $XRP and $ETH to Determine Status: Report
The judge's ruling had a significant implication for the status of institutional sales of XRP. While the ruling stated that XRP sold on exchanges are not securities, the question remains on whether institutional sales constitute a security transaction or not.
According to a report by The Block, the Securities and Exchange Commission (SEC) may soon reach an agreement with Ripple to end the lawsuit filed late in 2020.
One of the pressing points of the ongoing settlement negotiations is on the XRP coin's legal status, as per journalist Charles Gasparino, and Ethereum, the world's second-largest crypto asset, is reportedly being used as an example.
“ETH was obviously issued as an ICO (initial coin offering); its characteristics on issuance was no different than XRP—both used to finance the buildout of a platform,” Gasparino wrote on X, formerly Twitter.
SCOOP: Off of @EleanorTerrett's scoop from yesterday on the @Ripple - @SECGov settlement negotiations, one issue that is being weighed by the commission is whether $XRP continues to trade and have a utility that makes it more a commodity and not a security. I am told the…https://t.o
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