In a significant development for the crypto industry, the Chamber of Digital Commerce (CDC), an organization supporting blockchain and digital assets in the US, has lauded the judge’s ruling in the Securities and Exchange Commission’s (SEC) lawsuit against Ripple.
In the SEC v. Ripple case, the court adopted 🔑 key themes from The Chamber’s amicus brief.
We’re going to keep fighting for consumers and innovators. Read the analysis and stay tuned: https://t.co/FTQNhwZnHh
— Chamber of Digital Commerce (@DigitalChamber) August 4, 2023
The ruling establishes a crucial precedent by distinguishing between investment contracts and the actual assets in question, with a specific analysis of Ripple’s XRP token distributions, categorizing them into institutional sales and programmatic sales.
The CDC welcomes the decision as it aligns with their support for Ripple and emphasizes the need for a fair environment in the digital asset sector. They advocate policies that promote the US’s leadership in the digital economy and assert that clear and definitive rules can only be achieved through legislation by Congress.
Despite challenges in passing blockchain and digital asset regulatory bills in Congress, the CDC remains committed to creating a comprehensive legal framework that fosters innovation and product launches in the digital asset space.
The CDC’s support for the judge’s ruling reflects their belief in a fair and sensible approach to crypto regulation, highlighting the importance of legislative clarity for encouraging innovation in the digital asset sector.
Also Read: SEC’s Move with XRP Report in Lawsuit Sparks Ripple CEO’s Outcr
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- Source: https://cryptoinfonet.com/regulation/chamber-of-digital-commerce-applauds-ripple-sec-ruling/
