Mini Alt Season

Jul 20, 2023 • 9 Min Read

Final Thoughts on Ripple Decision

In June, we identified the Ripple case as a possible catalyst for altcoins, as indications of progress for the defendants surfaced. Just last week, Ripple achieved a partial victory, likely benefiting altcoins targeted by the SEC and potentially prompting a shift towards a more legislative approach rather than an enforcement-focused one.

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The court ruled that Ripple Labs' transactions of $XRP to institutional investors constituted securities transactions. However, programmatic sales on exchanges, distributions to employees, and other secondary sales from Ripple Labs executives were not considered securities transactions. The classification depended on transaction nature and participants' awareness.

Importantly, the decision clarifies that tokens with characteristics mirroring XRP are not automatically classified as securities. Instead, it emphasizes the need to consider the specific circumstances surrounding the sale and distribution of the token in question.

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To put a finer point on our takeaways from the ruling, we have compiled the list of key points to consider below. As an obvious disclaimer, we are not lawyers, and we are simply evaluating the court’s ruling from the ...

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