The US Fifth Circuit Court recently ruled that regulatory agencies cannot create laws but only enforce those passed by Congress. This decision impacts the SEC’s dealer rule and Treasury sanctions on Tornado Cash. Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, celebrated the limitation of regulatory overreach and advocated for clearer guidelines for regulatory agencies.
Ripple’s XRP token saw a 3% surge in value following the ruling. This decision might lead to a more balanced regulatory environment and encourage institutional investors to invest in XRP. The Ripple vs. SEC case could be impacted by this ruling, as the SEC may have overstepped its authority in classifying XRP as a security.
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