Ripple Vs SEC: XRP Ruled Not a Security, Sets Precedent for Crypto Industry
The recent ruling by Judge Analisa Torres in the Ripple Vs SEC case has declared that XRP is not a security. This landmark decision has significant implications for the cryptocurrency industry and sets a precedent for future cases against crypto companies brought by the SEC.
Main Points:
- Judge Torres’ ruling in the SEC v. Ripple case will be the “law of the land” for the next two to three years.
- Attorney John Deaton believes it may take up to three years before the case reaches the Second Circuit.
- Deaton speculates that the SEC may reference the LBRY ruling to argue against Judge Torres’ decision.
- Judge Torres dismissed the SEC’s claim that Ripple violated the law through programmatic sales of XRP.
- However, she ruled that Ripple’s direct sales to institutional clients are securities.
Hot Take:
The ruling that XRP is not a security is a significant victory for Ripple and the broader crypto industry. It establishes a precedent that challenges the SEC’s approach to regulating cryptocurrencies. However, the SEC’s potential appeal and the future of the case in the Second Circuit will continue to impact the industry. Overall, this ruling highlights the ongoing legal and regulatory challenges faced by cryptocurrencies and the need for clearer guidelines from regulatory authorities.
By
By
By
By