💥🔜XRP 🔜 Is Court Rules XRP Is Not a Security in Ripple vs. SEC Case new upgrade 🖐️🖐️
What Is Happening Between Ripple VS SEC?
Court Rules XRP Is Not a Security in Ripple vs. SEC Case
A year ago, a landmark decision in the Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs determined that XRP is not a security. This decision had implications for the cryptocurrency market and the regulatory environment in the United States.
The ruling marked a significant victory for Ripple, a blockchain-based digital payment network, and set an important precedent in the classification of cryptocurrencies.
What Is Happening Between Ripple and the SEC?
The SEC first filed a lawsuit against Ripple in December 2020, alleging that the industry conducted an unregistered securities giving by selling XRP. but, Ripple argued that XRP should be viewed as a currency rather than a security, and after a lengthy legal battle, the court sided with Ripple on July 13, 2023.The court’s make decision that XRP is not a security had far-reaching implications for the cryptocurrency industry.
Firstly, it provided much-needed regulatory clarity. Cryptocurrencies often operate in a gray area, making it difficult for regulatory bodies to classify and regulate them appropriately.
By ruling that XRP is not a security, the court set a precedent that could interest how other cryptocurrencies are viewed and regulated. This decision also had a positive impact on XRP’s market value. TradingView data shows that XRP’s price increased by around 6% following the ruling.
