While there seemed to be much enthusiasm as surrounding Judge Torres’s summary ruling in the crypto industry, one aspect in particular still got numerous crypto-enthusiasts and journalists talking: XRP’s programmatic sales occurring at the start of every month, were considered not to be investment contracts according to the ruling.
Moreover, Ripple’s prior $729 million worth of direct sales of XRP to investors totaled are evaluated to be securities recognized by the court, leading many crypto investors forwardly speculation that Ripple might have to endure up to a $729 million fine to the U.S SEC.
This obtainted the attention of well-known Fox Business reporter Charles Gasparino, and he mocked on Wednesday if Ripple’s CEO Brad Garlinghouse will on his own be held liable for the joint penalty or if Ripple has the economic stability required to compensate.
Upon this statement, Garlinghouse stressed that it would be ultimately for the court itself to decide to what extent on penalties involvement of the final verdict ruling established by the court, with the SEC burning all claims and other controversial attempts within the lawsuit.
For confirmation, SEC Chief Legal Officer Paul Grewal at Coinbase said that the SEC thankfully acknowledging court seperately ruling that implicates Ripple for possible securities law violations using certain circumstances from direct XRP sales.
