Ripple Emerges Victorious in Legal Battle Against SEC
Ripple has won a significant legal battle against the SEC, leading to celebration within the crypto community. The court ruled that XRP sales on crypto exchanges are not securities sales, preventing a potentially dire scenario if the SEC had won.
The “Anti-Crypto Army”
Legal expert John E. Deaton speculated on the implications of an SEC victory, envisioning an “anti-crypto army” led by SEC Chief Gary Gensler and Senator Elizabeth Warren. This regulatory force could have dealt a significant blow to the crypto industry.
SEC’s Ambitions Thwarted
Deaton argued that Judge Analisa Torres’ ruling not only benefited crypto enthusiasts but also hindered the SEC’s ambition to control the entire asset class. The decision forces the SEC to reassess its approach to regulating the crypto industry.
XRP On Unsteady Grounds
Following the legal victory, XRP experienced some fluctuations in its value. It is currently trading at $0.70, showing a slight decline in the past 24 hours and over the last week. However, it is still trading almost 50% higher than a month ago, indicating persistent optimism in the market.
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