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ARTICLE · 30 MARCH 2021

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Ripple (XRP) Case And Turkish Security Laws

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Amidst worldwide discussions regarding legal status of cryptocurrencies, the Securities and Exchange Commission of the United States of America ("SEC") filed a lawsuit against Ripple Labs, Inc...

TurkeyCorporate/Commercial Law
Tuğrul Sevim
Tuğrul Sevim
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Amidst worldwide discussions regarding legal status of cryptocurrencies, the Securities and Exchange Commission of the United States of America ("SEC") filed a lawsuit against Ripple Labs, Inc. ("Ripple") on December 22, 2020, which accuses Ripple for unregistered securities offering through sales of XRP token.

Although there have been administrative considerations or interpretations for legal designation of crypto assets to a certain extent, the prospective decision to be rendered by the District Court of Southern District of New York ("Court") is of an important legal value, since it will be the first court ruling for assessing legal status of a crypto asset. This article examines the arguments set forth by SEC and Ripple's defenses in response, for the sake of conducting a comparative assessment with Turkish capital markets law.

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