Crypto Readers Rejoice as Uphold CEO Applauds Favorable XRP Ruling
In a recent interview with Uphold CEO Simon McLoughlin, he expressed his excitement and validation following Judge Torres’ ruling in favor of XRP. Here are the key takeaways:
1. Uphold’s support for XRP vindicated: McLoughlin highlighted that Uphold’s decision to continue supporting XRP in the United States, when others chose not to, was validated by the court’s ruling.
2. Court’s judgment based on legal precedent: McLoughlin praised the court’s consideration of existing legal precedent, particularly the use of the Howey test to determine XRP’s security status. This approach makes the ruling more challenging to appeal.
3. Ripple’s business impact: The interview discussed the aftermath of the court ruling and how it has affected Ripple’s business and the cryptocurrency landscape as a whole. McLoughlin mentioned ongoing discussions with banks, institutions, and payment providers in the United States.
4. Elation and vindication: McLoughlin expressed his elation and vindication upon hearing the news, considering Uphold’s bold decision to support XRP in the United States. He commended the judge for basing the ruling on existing jurisprudence.
In a court filing on Wednesday, the U.S. Securities and Exchange Commission (SEC) revealed its plans to make an “interlocutory appeal” regarding the judge’s decision on Ripple’s XRP sales. The SEC seeks permission to appeal one part of the ruling while the rest of the case proceeds to trial.
Hot Take: Uphold’s support for XRP in the United States has been validated by the court’s ruling, bringing a sense of elation and vindication to its CEO, Simon McLoughlin. The decision’s reliance on existing legal precedent also makes it difficult to successfully appeal. While the SEC plans to appeal part of the ruling, the cryptocurrency community can celebrate this favorable outcome.
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