Berenberg says the judge’s decision that Ripple’s XRP token on a standalone basis is not a security is immaterial in the context of coinbase since she also acknowledged that the sale of XRP can represent a securities transaction. willcanny99 reports.
, however, the extent of the rally may not be warranted, investment bank Berenberg said in a research report.
A closer reading of the court’s ruling shows that the judge specifically did not reject that argument, the report said.on allegations of violating federal securities law. According to the regulator, Coinbase has operated as an unregistered broker, exchange and clearing agency simultaneously. It solicited customers, handled orders, allowed for bids and acted as an intermediary all at once, the SEC said.
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