The post Ripple ODL Operations Comply with the Law, Says Lawyer appeared on BitcoinEthereumNews.com.

Top lawyer highlights 4 reasons why Ripple may still sell XRP to institutional investors. The ODL service has foreign jurisdiction insulation for Ripple to thrive. Stakeholders of American blockchain payments firm Ripple Labs Inc. just breathed a major sigh of relief with Judge Analisa Torres’s latest ruling. The ruling mandated the payments company pay a $125 million fine and officially concluded the long-drawn legal battle with the United States Securities and Exchange Commission (SEC). With the conclusion of this case, top lawyer Jeremy Hogan has explained to the community what the ruling means for some aspects of Ripple’s business. His focus hinges on the sales of XRP through the On-Demand Liquidity (ODL) product. Can Ripple Sell XRP To Institutional Investors? Recall the major contention in the lawsuit hinges on two basic considerations. These include the sales of XRP to retail investors and the sale to institutional or corporate buyers. While XRP was declared a non-security per an earlier ruling, the $125 million penalty is the remedy for Ripple’s coin sales to institutions. I see lots of questions re what the injunction means for ODL sales. I don’t see it changing the status quo AT ALL, for the following reasons: 1. As Ripple has stated, the majority of its XRP and ODL sales are outside the U.S. jurisdiction and not subject to the ruling. Those… pic.twitter.com/3GimWEcp0c — Jeremy Hogan (@attorneyjeremy1) August 7, 2024 Attorney Hogan sheds light on what this means for ODL Sales. He does not see the status quo changing. Backing up his position, Hogan said Ripple argued throughout the legal battle that the majority of its XRP and ODL sales took place outside of US legal or regulatory jurisdiction. This generally insulates the company from continuing its sales as it has always done despite the lawsuit. Hogan noted that the firm…

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Filed under: News - @ August 8, 2024 11:20 pm