Ripple, the company behind XRP, has been facing legal challenges from the United States Securities and Exchange Commission (SEC). However, recent developments suggest a positive outcome for the company. The California judge overseeing the case has dismissed allegations that Ripple violated federal securities law. This ruling supports the previous New York decision that XRP is not a security.
Ripple CEO, Brad Garlinghouse, who is also involved in a civil lawsuit regarding a securities claim based on statements he made in 2017, has expressed optimism about the recent developments. He stated that the dismissal of all class action claims in the suit is a "big win" for Ripple.
Despite the ongoing legal battles, Ripple remains a key player in the cryptocurrency industry. This development could have significant implications for the broader DeFi and BRC 20 sectors, potentially setting a precedent for future cases involving digital assets.