A year ago, a landmark ruling determined XRP is not a security, significantly impacting crypto regulation and market value. This decision has shaped the regulatory landscape in the U.S.
While challenges remain, Ripple's victory has set a precedent that could shape the future of the cryptocurrency industry for years to come.
One year ago, a landmark ruling in the Securities and Exchange Commission’s case against Ripple Labs determined that XRP, Ripple’s cryptocurrency, is not a security. This decision has had implications for the cryptocurrency market and the regulatory landscape in the United States. The ruling marked a significant victory for Ripple, a blockchain-based digital payment network, and set a crucial precedent for classifying cryptocurrencies. The SEC had initiallyHowever, Ripple argued that XRP should be considered a currency rather than a security, and after a lengthy legal battle, on July 13, 2023,The court’s decision that XRP is not a security has had far-reaching consequences for the cryptocurrency industry.
By ruling that XRP is not a security, the court established a precedent that could influence how other cryptocurrencies are viewed and regulated. This ruling also had a positive impact on XRP’s market value. TradingView data shows XRP’s pricehis thoughts on the X platform, highlighting the significance of Judge Torres’ ruling.
The lawsuit has seen numerous developments and legal battles over the years. One significant aspect is the discussion around the Howey test, which determinesas an “investment contract” under US law. According to the SEC, XRP meets the conditions of the Howey test, while Ripple argues otherwise.Stop piling into leveraged Bitcoin ETFs and consider this instead
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ripple's upcoming stablecoin will 'compliment' XRP, says Ripple President Monica LongMonica Long shares the strategy behind Ripple's upcoming stablecoin launch.
Read more »
Ripple active addresses climb 30% overnight, XRP hovers around $0.43Ripple (XRP) on-chain activity shows an increase in activity among XRP traders.
Read more »
XRP Price Skyrockets Amid Market Depression: Ripple v. SEC Ruling Imminent?XRP rises amid speculations of imminent SEC case resolution against Ripple
Read more »
Can XRP Flip ETH in the Event of a Ripple Victory Against the SEC (ChatGPT Speculates)Crypto Blog
Read more »
Ripple CEO slams SEC Gary Gensler for recent remarks, XRP extends lossesRipple (XRP) executive Brad Garlinghouse is making headlines for his statement on Securities and Exchange Commission (SEC) Gary Gensler’s remarks on crypto.
Read more »
XRP stuck below $0.50 as Ripple CLO says SEC has abandoned demand for $2 billion fineXRP struggles to make a comeback above sticky resistance at $0.50 on Monday as traders continue to assess the legal skirmishes between blockchain firm Ripple and the US Securities and Exchange Commission (SEC).
Read more »