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“If the ruling is adopted by the court docket of appeals, it doubtlessly offers a pathway for tasks to lift funds,” Gulovsen mentioned. Choose Torres’ ruling may show to be an outlier. One other choose in the identical court docket, Choose Jed Rakoff, explicitly rejected Choose Torres’ evaluation in a abstract judgment ruling of his personal within the SEC’s case towards Terraform Labs – although, after all, the circumstances of that ruling are distinctive to that case, because the circumstances of the Ripple ruling are distinctive to this case.
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