Ripple has come out victorious over the SEC, triggering a market surge not seen in a long time. The momentous win sees XRP become the first crypto with regulatory clarity and may be the catalyst to end the ongoing crypto winter.
July 13, 2023, becomes a date that many investors and people interested in the crypto market will remember.
Judge Analise Torres of the Southern District of New York handed a partial win over to Ripple Labs after its three-year-long battle with the US Securities and Exchange Commission (SEC).
Crypto Industry Gets a Win Amid Regulatory Crusades
Per the ruling issued by Judge Torres, Ripple’s native $XRP token is “not necessarily a security on its face.”
The decision declared that Ripple’s XRP sales on public crypto exchanges were not offers of securities because buyers did not have a reasonable expectation of profit tied to Ripple’s efforts, Reuters reports. In 2020, the SEC sued Ripple, alleging it violated US securities laws leading many exchanges
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