Industrial Investment: A sentence from the US judge detonated! The currency circle has a night of carnival

On Thursday, a U.S. federal judge ruled that Ripple's tokens(Ripple)Not necessarily securitiesThe long-awaited decision is widely seen as a victory for the cryptocurrency industry over the Securities Exchange Commission (SEC), and the ruling could help keep cryptocurrencies out of regulation for securities types.

U.S. District Judge Analisa Torres for the Southern District of New York said the sale of Ripple by cryptocurrency companies to sophisticated investors (institutional investors) met the relevant investment test under securities laws because the buyers understood that "Ripple presents a speculative value proposition" and that Ripple could make a potential profit.

But the judge said that thisNot suitable for general investors, i.e. the wider public, "There is no evidence that these investors were able to analyze Ripple's various statements about Ripple." The judge said that many of the statements cited by the SEC may not have been shared with the general public.

Ripple, along with CEO Brad Garlinghouse and co-founder Christian Larsen, was sued by the Securities Exchange Commission (SEC) in 2020 for failing to register its $1.40 billion sale of Ripple as a security. The company has been embroiled in a protracted lawsuit ever since.

Paul Kisslinger, a former SEC trial lawyer now with Lewis Brisbois, said:The ruling could deal a blow to the SEC's jurisdiction, because the participants in most cryptocurrency transactions are likely to be retail investors, not hedge funds or other institutional investors. He said:

"Judge Torres' ruling that Ripple is a security in institutional sales and may not be considered a security in sales to the public will have a profound impact on future cases. If adopted by other courts, particularly appellate courts, it will certainly narrow the SEC's enforcement jurisdiction over cryptocurrency transactions."

The ruling comes as the SEC is aggressively targeting cryptocurrency companies for allegedly selling unregistered securities. Earlier on Thursday, the SEC sued Celsius Network Ltd. and its former CEO, Alex Mashinsky, who was also charged with fraud by federal prosecutors in New York last month, while Coinbase, the largest U.S. cryptocurrency exchange, was also indicted by the SEC.

Bankrupt cryptobrokerDavid Brill, a former deputy general counsel at Voyager Digital, said Torres' ruling could be"Watershed Moment"He said, thisGood omen for Coinbase"This undermines the SEC's position that tokens sold on the Coinbase platform are unregistered securities," Brill said.

Separately, the SEC's motion for summary judgment on Garlinghouse and Larsen's "aiding and abetting" charges was denied. The court said, "It is unclear whether they knew or recklessly ignored the securities laws that apply to Ripple, rather than the laws under other regulatory regimes.

Garlinghouse responded to the ruling on Twitter, "We said in December 2020 that we were on the right side of the law and will be on the right side of history. Thank you to everyone who helped us make today's decision that benefits all cryptocurrency innovation in the United States".

Affected by the news, Ripple soared more than 70%, while driving Ethereum rose more than 6%, breaking through the $2000 mark, Bitcoin rose 3.5%, and other small cryptocurrencies and counterfeit products also rose. Cryptocurrency exchange Coinbase rose more than 21% in the day, hitting a new high in nearly a year.Societe Generale InvestmentRemind you that investment is risky and financial management needs to be cautious!