Assertion: ripple's xrp | /r/HasProperty | security
Facets:
value: anytime soon
type: TEMPORAL
value: because of the way
type: CAUSE
Source sentences:
text: At the heart of the dispute is an almost existential question: Whether XRP, the cryptocurrency that Ripple periodically sells to fund its operations, is a security that should have been registered under U.S. law.
text: Critics here argue that there’s a case that XRP could be considered a security because of the way that it was released in many ways a variation on the initial coin offering (ICO) model.
text: ‘Unclear' whether XRP is a commodity or a security - CFTC Chair
text: No one’s finding out whether XRP is a security anytime soon, if ever, at least through this proceeding,” said Rebecca Rettig, a partner at FisherBroyles.
text: While Ripple’s motion to dismiss touched on the question of XRP being a security, it did so as a footnote rather than an argument.
text: The question of whether XRP is a security is a legal conclusion, said Godfrey (who clarified he has not litigated in federal court and does not practice securities law).
text: In particular, he highlighted that the complaint claims XRP is a security under both federal and California state law.
text: Although the framework on its own doesn’t have precedential value – meaning the court is not required to follow it – it will be very interesting to see how the court handles the utility of the framework in moving forward in determining whether XRP is a security.
text: Over the course of 11 pages, the amended complaint details how the plaintiffs believe XRP is a security based on the framework, stating that “XRP purchasers made an investment of money in a common enterprise”; “XRP investors had a reasonable expectation of profits”; and “the success of XRP requires efforts of Ripple and others”.
text: More significantly, the plaintiffs want the court to declare that XRP is a security, which could have an impact on Ripple’s ability to continue selling XRP from its reserves, as well as potentially limit who can acquire the token.
text: During the past year, several XRP investors who took a hit when the price of XRP dropped in early 2018 have sued Ripple, saying that XRP is a security and the company violated state and federal law by failing to register XRP with the Securities and Exchange Commission before selling it to retail investors.