Monday Aug 07, 2023

Everything You Need To Know About the SEC vs. Ripple Lawsuit

Everything You Need To Know About the SEC vs. Ripple Lawsuit

The SEC vs Ripple has been a landmark case for the crypto industry and recently the Judge presiding over the case ruled that Ripple did not violate securities law in selling its XRP token via public exchanges. 

In this episode, Ian Andrews, brings on securities law and blockchain expert, Lewis Cohen, co-founder of DLX Law, who explains  this case is far from over and still has serious implications for the crypto industry. 

Lewis provides a background on securities laws and how they may apply to cryptocurrency, ICOs and NFTs and how decentralization is not the sole determining factor in whether a token is a security or not. 

He analyzes the judge's ruling in the Ripple case, highlighting the distinction between institutional sales, programmatic sales, and other distributions, while explaining the impact on exchanges and the ongoing litigation of other major crypto trading  platforms.

Minute-by-minute episode breakdown

  • (2:35) - Introduction and background of Lewis Cohen and explanation asset backed securities 
  • (6:04) - The ICO boom and their similarity to traditional securities transactions 
  • (10:25) - Explanation of securities laws and the Howey test
  • (17:06) - Clarification on the relationship between decentralization and securities laws 
  • (27:12) - Overview of the SEC's complaint against Ripple
  • (33:02) - Analysis of Judge Torres' ruling on the Ripple case and explanation of institutional sales, programmatic sales and other distributions
  • (36:05) - Impact of the ruling on exchanges and future lawsuits
  • (41:37) - Explanation of the ongoing process and potential outcomes of the case

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