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Ripple General Counsel Clarifies Court's Ruling on XRP Sales and Securities

Ripple's General Counsel, Stuart Alderoty, has clarified that the sales of XRP by the company's executives are not securities, following Judge Analisa Torres' ruling that XRP itself is not a security. Alderoty also stated that sales of XRP on secondary markets, as well as distributions to developers, employees, and charities, are not securities.

The only aspect of the XRP transaction deemed an investment contract by Judge Torres was Ripple's past direct sales to institutional clients, which will be the subject of further court proceedings. Ripple CEO Brad Garlinghouse hopes that Alderoty's clarification will address confusion surrounding the ruling.

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