Weekly Roundup 07/14/23 (Ripple gets a W, Machinsky arrested, PoR in federal legislation) (EP.438)
On The Brink with Castle Island
The Court's Decision in the Ripple Case Is a Good One
This is a New York federal court that stepped in to do this, I think is pretty momentous. This will have reverberations around the industry. We actually really don't have a lot of precedent when it comes to the status of these tokens in the courts. It seems to me that the initial distribution method matters a lot. If it's a big crowd sale, especially to retail, it'm a big sale. And so if that's how most of the tokens found their way to market, maybe the court takes a negative view of that. In this case, the court took a much more benign attitude to that.
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