Finally Ripple Labs Notches Landmark Win In SEC Case Over XRP #Cryptocurrency 🚀
The SEC accused Ripple of conducting an unregistered securities offering, but the U.S. District Judge ruled that Ripple did not violate federal securities law. The ruling is the first win for a cryptocurrency company in a case brought by the SEC, and it may provide ammunition for other crypto firms battling the regulator's jurisdiction.
However, the judge ruled that Ripple's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. The ruling brought new calls for Congress to clarify the status of digital assets.
The ruling sparked a wave of green in the crypto market, with crypto prices rocketing up.
