One year ago, the historic ruling in the SEC's case against Ripple Labs determined that XRP was not a security. This has greatly affected the crypto market and regulation in the US.

- This ruling is an important victory for Ripple and sets a precedent for crypto classification.

- The SEC sued Ripple in December 2020, alleging that the company sold XRP as an unregistered security.

- Ripple argued that XRP should be considered currency, and on July 13, 2023, the court sided with Ripple.

📈 Impact on the market:

- This decision brings regulatory clarity, helping to shape the way other cryptocurrencies are viewed and managed.

- XRP price increased nearly 6% after the verdict.

Stuart Alderoty, chief legal officer of Ripple, shared on the X platform the importance of this ruling, emphasizing that it helps recognize the overreach of the SEC under Chairman Gensler.

- Ripple and the SEC continue their legal battles and negotiations.

- The regulatory environment remains complex, but Ripple has strengthened its legal argument and position in the market.

What do you think about this ruling? Comment below! 💬