Another judge refuses to recognize Ripple ruling: “I don’t discriminate”
In the case of Terraform Labs and Do Kwon, where the SEC filed an unregistered investment contract lawsuit, a federal judge found in favor of the organization and clearly departed from the decision in the Ripple case. Judge Jed Rakoff stated that he did not distinguish between sales to the public and sales to institutional firms in the secondary market, like the decision in the Ripple case, and that he disagreed with the decision in the Ripple case.