Ripple Court Ruling May Expand Legal Action Potential Against Crypto
Cointelegraph
Published Mar 14, 2020 03:35AM ET
Updated Mar 15, 2020 06:40AM ET
A California court has argued that cryptocurrencies that are not securities may be subject to federal laws targeting unfair, deceptive, or abusive acts or practices (UDAAP) during a Feb. 26 hearing for a consolidated class action against Ripple Labs Inc.
During the Feb. 26 hearing, the court asserted that transactions involving cryptocurrencies that are not deemed to be securities may be subject to UDAAP laws — paving the way for further putative action to be taken against other crypto projects that claim exemption from federal securities laws, particularly in California.
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Written By: Cointelegraph
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