MEXCXRP ODL Sales Are Security Now? Ripple Exec Looks Unsure
XRP News: U.S. District Judge Analisa Torres on Thursday announced a major but partial win for Ripple and the defendants against the U.S. Securities and Exchange Commission (SEC). The ruling suggests that the XRP token is not a security. However, Ripple’s executive is still not sure about the XRP on-demand liquidity (ODL) linked sales post-judgment.
Also Read: XRP Price Eyes $1 As Whale Activity Hits 2023 High
XRP ODL Salas Are Now In Focus
According to the data, Ripple Labs used to have institutional and programmatic sales until the 4th quarter of 2019. The blockchain firm stopped the programmatic sales, while the institutional sales were reportedly got replaced by ODL-related sales. This raises a direct query that ODL linked sales would be considered as securities post the major court ruling.
Ripple CTO, David Schwartz addressed this concern and stated that they are still figuring this out. The blockchain firm doesn’t have ODL related sales with a US nexus. However, not being able to perform that in the US is not kind of a big deal.
He added that one can still perform the on demand liquidity in the US however the XRP tokens used in the process needs not to be sourced from Ripple. Read More XRP News Here…
No Clarity Despite Major Ruling?
Schwartz highlighted that the logic behind it is that ODL customers are the users who weren’t expecting a profit. However, it doesn’t matter what they expect as the only what a reasonable buyer buying from Ripple can expect profit, he added. The conclusion seems weird as it includes a reasonable buyer and not a reasonable ODL customer.
He mentioned that before the major summary judgment ruling Ripple executives might be considered that selling blind on an exchange would be worse than selling to sophisticated buyers for purely consumptive use.
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