Fox Business Attacks XRP Again; Sr. Correspondent Calls XRP Ruling A “Twisted Logic” – Crypto News – Crypto News
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Fox Business Attacks XRP Again; Sr. Correspondent Calls XRP Ruling A “Twisted Logic” – Crypto News

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3 years ago

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The XRP ruling has been a source of joy to most stakeholders in the digital currency ecosystem, however, it comes with a lot of “gray areas” as top media personality Charles Gasparino is pointing out.

Confusing Language in the XRP Ruling

Accordingly to Gasparino, the language used in the verdict presented a ‘twisted logic’ which he claimed “gave crypto to worst of all worlds.”

Gasparino specifically faulted the delineation between XRP sales on crypto trading platforms and the sales of the same asset to institutional investors. In the ruling, Judge Analisa Torres said the secondary sales of XRP on exchanges does not constitute a security while those sold to institutional investors may be described as such.

To Gasparino, this discrepancy is like turning ‘logic and securities law on its head’. The top media personality believes it would have been more favorable for XRP if the verdict had been whether or not the asset is a security.

Additionally, Gasparino was also not at peace with the way Judge Torres presented the verdict, which said the asset isn’t “in itself” a security. He believes this presentation opens up a lot of gray areas that are not ideal for an industry that needs regulatory clarity so much.

Gasparino has been known to be very critical of the XRP community, especially with how the case has played out thus far. As Reported earlier by Coingape, Gasparino recently referred to the XRP community as a cult, a tag that shows his negative leaning towards the community.

Gasparino May Have a Point

The reaction of the community to Gasparino’s latest tweet was filled with skepticism with some believing there might be a point in his words.

This is because the US Securities and Exchange Commission (SEC) may choose to exploit these gray areas should it choose to Appeal the initial verdict of Judge Torres. This possibility implies that the XRP lawsuit is far from over and should the case progress some more, the tides may shift to either that of the markets regulator or the blockchain payments firm, Ripple Labs Inc.

Benjamin Godfrey is a blockchain enthusiast and journalist who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, LinkedIn

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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