Ripple Labs wins in court: XRP is not classified as security

Ripple Labs wins in court: XRP is not classified as security

ripple Labs lists important victory in legal proceedings against the sec

The Southern District Court of New York has judged the CRPLE SEC SEC in favor of the XRP editor in a much-noticed process by the crypto company Ripple Lab. Judge Analisa Torres approved Ripple Labs for finding the judgment and decided that the company's own cryptocurrency XRP cannot be classified as securities.

The SEC had started the legal proceedings in 2020 and argued that the sale of XRP by Ripple corresponds to illegal sales sales. This thesis now seems to be refuted. The court documents stated that the defendant's application was given for judgment, which also applies to the associated sales and distributions of XRP. However, institutional sales are not included.

Immediately after the judgment became known, the XRP course increased from $ 0.61 $ 0.61, which corresponds to an increase of 25 %. This leaking increase shows the positive echo of the Ripple cryptocurrency in the crypto community.

In December 2020, in addition to Ripple, the two managers Brad Garlinghouse and Chris Larsen were also charged. They were accused of selling securities without proper approval. However, the indictment was significantly from the legal classification of the cryptocurrency.

The process became an important indicator of the American crypto industry, since the legal clarity regarding crypto regulation in the United States is missing. The judgment could therefore serve as a precedent.

The entire crypto community is extremely positive about the further effects of the judgment. The sudden increase in the XRP course after Ripple's supposed victory reinforces this positive mood. It remains to be seen how the judgment will affect the regulation and acceptance of cryptocurrencies in the United States.