The article discusses a recent ruling in the Ripple case by the Southern District of New York, where the judge found that XRP tokens were offered and sold by Ripple as investment contracts in violation of securities laws. The judge emphasized that the Howey test governs securities analysis of crypto transactions. The Securities and Exchange Commission (SEC) spokesperson expressed satisfaction with this ruling and mentioned that ignorance of securities law is not a sufficient defense. Experts predict that an appeal may be expected from both sides. The article also includes a disclaimer stating that it is provided for informational purposes only and should not be taken as legal or investment advice.
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