Ripple cites a recent U.S. District Court ruling in the Binance case to support its legal arguments.
Ripple, an enterprise blockchain corporation headquartered in San Francisco, has submitted a notice of supplementary authority in response to a recent ruling in the Binance case.
The U.S. District Court for the District of Columbia partially granted Binance’s motion to dismiss the agency’s claims that sales of specific cryptocurrencies constituted securities sales on June 28.
In its notice, the court stated that it adhered to the summary judgment decision in the SEC v. Ripple Labs case, which was issued by Judge Analisa Torres on July 13, 2023.
In the Binance decision, federal Judge Amy Berman Jackson specifically referenced the Ripple ruling, adhering to the logic of Judge Torres by distinguishing between secondary market sales and institutional sales.
This decision was made in response to District Judge Jed Rakoff‘s assertion that the legal status of digital currencies was not contingent upon the specific manner of sales.
