"...the Court concludes that Ripple’s Programmatic Sales of XRP did not constitute the offer and sale of investment contracts"
It is not only third party sales that were deemed not to be investment contracts—it was all programmatic sales. As I said, the federal court found that exchange-traded Ripple XRP tokens are not securities.
Also, you should know that the SEC has dropped the remaining charges that were to be tried in April. The next step in the litigation is an appeal of the summary judgement.
"...the Court concludes that Ripple’s Programmatic Sales of XRP did not constitute the offer and sale of investment contracts"
It is not only third party sales that were deemed not to be investment contracts—it was all programmatic sales. As I said, the federal court found that exchange-traded Ripple XRP tokens are not securities.
Also, you should know that the SEC has dropped the remaining charges that were to be tried in April. The next step in the litigation is an appeal of the summary judgement.