Ripple Ruling on Crypto Rejected by Federal Judge in Terra Case

(Bloomberg) -- A federal judge in New York split with another judge who earlier this month ruled that a Ripple Labs token was not a security when sold to the public on secondary markets.Most Read from BloombergLots of US Homeowners Want to Move. They Just Have Nowhere to GoAsia’s Richest Families Fuel Race for Lucrative Finance JobsUS, Europe Are Growing Alarmed by China’s Rush Into Legacy ChipsA 5% US Mortgage Rate Is Seen as Tipping Point to Unlock SupplyStock Bulls in Charge as S&P 500 Extend

• 2023-08-01
• Ripple Labs Bloomberg Jed Rakoff Terraform Labs secondary markets

U.S. judge considers whether Terraform Labs' cryptocurrencies were securities

A U.S. judge considered whether the digital assets created by Terraform Labs were securities at a hearing on Thursday, a question central to the U.S. Securities and Exchange Commission’s fraud case against the company and its founder Do Kwon. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled crypto markets around the world last year.

• 2023-06-16
• Terraform Labs digital assets U.S. Securities and Exchange Commission Do Kwon securities Jed Rakoff