The Ripple vs SEC Case: Ripple and XRP Celebrate Victory, Coinbase Could Be the Other Winner
The recent decision in the ongoing case between Ripple and the SEC has brought celebration to the XRP community. The judge’s ruling stated that only a portion of Ripple’s XRP sales could be considered illegal securities offerings, marking a victory for Ripple and the XRP token. Attorney John Deaton shared his excitement on Twitter but also pointed out another potential winner in the case: Coinbase. Deaton highlighted that XRP sold on exchanges is not the sale of securities, suggesting that Coinbase made the right decision in delisting XRP.
Key Points:
- Ripple and XRP celebrate victory in the ongoing case with the SEC.
- Only a portion of Ripple’s XRP sales are deemed illegal securities offerings.
- Coinbase could be another winner in the case.
- Coinbase previously delisted XRP along with other cryptocurrencies.
- The judgment is seen as a win for XRP and could have implications for Bitcoin and Ethereum as well.
Coinbase, the largest exchange in America, had delisted several cryptocurrencies, including XRP, due to the ongoing legal battle. However, with the recent ruling, the decision to delist XRP may be reconsidered. This marks a positive development for the crypto space as a whole, according to Deaton. He believes that this case sets a precedent and showcases the strength of Judge Torres, who presided over the case.
In light of the ruling, Adam Cochran, a managing partner at Cinneamhain Ventures, highlights the significance of this victory for XRP. Cochran argues that the programmatic sale of XRP does not meet the criteria to be classified as a security under the Howey test. If XRP is not considered a security, Cochran suggests that the same logic could apply to other major cryptocurrencies like Bitcoin and Ethereum, implying that they are not securities either.
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