#TopCoinsSeptember
The SEC v. Ripple lawsuit was a high-profile court case involving the United States Securities and Exchange Commission (SEC) and financial technology company Ripple Labs. The SEC alleged that Ripple illegally sold XRP, a cryptocurrency, as an unregistered security.
The case was settled in July 2023 with a partial victory for each side. The U.S. court found that Ripple violated securities law in only one of the three types of XRP offerings filed by the SEC. However, XRP was no longer considered a security in general, with the classification depending on the type of offering in the market.
This ruling had a significant impact on the cryptocurrency market, especially on the price of XRP, which rose significantly following the announcement. The ruling also set an important precedent for cryptocurrency regulation in the United States.
