Federal District Court in New York Decides that Whether a Cryptocurrency is a Security Depends on When and How It is Sold

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On July 13, 2023, the U.S. District Court for the Southern District of New York issued a decision in SEC v. Ripple Labs, Inc., a closely watched cryptocurrency case involving alleged securities law violations.  The court held that Ripple Labs unlawfully sold unregistered securities in violation of the Securities Act of 1933 (“Act”) when it sold …Read more