Ripple CEO and CLO Celebrate This XRP Day

Top Ripple executives join the broader XRP community to celebrate the first anniversary of Judge Analisa Torres’ summary judgment decision in the SEC lawsuit.

Significance of July 13:-

July 13 is a special day within the XRP community. On July 13, 2023, Ripple secured a partial legal victory against the U.S. Securities and Exchange Commission (SEC).

The ruling judge, Analisa Torres, declared that XRP is not, in and of itself, a security. She also ruled that certain XRP-related transactions the SEC alleged to be securities were not. This includes programmatic sales of XRP on secondary markets and other distributions of the coin.

Nonetheless, the court held that Ripple’s institutional sales of XRP violated Section 5 of the Securities Act. Although this portion of the ruling is being litigated in the remedies phase of the lawsuit, Ripple still considers Judge Torres’ summary judgment decision to be a complete victory for XRP.

Ripple CEO Celebrates:-

One year after the Judge issued the summary judgment ruling, Ripple CEO Brad Garlinghouse and other XRP enthusiasts took to X to reflect on the legal victory.

In an X post yesterday, Garlinghouse characterized July 13 as a very good day for Ripple and the industry. On a personal note, he views this day as a core memory.

He emphasized that Ripple had the conviction to fight the SEC, which he characterized as a bully that has unfairly targeted the crypto industry. The Ripple CEO noted that from the beginning of the legal tussle, he has always known that the company was on the right side of the law and would also be on the right side of history.

Furthermore, he criticized Gary Gensler’s SEC leadership for waging a war on crypto. He accused the securities agency of attempting to destroy the industry with failed lawsuits, defamation, misleading statements, and intimidation.

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