The US Securities and Futures Commission legal case against Ripple Labs, which began in 2020, ended in the latter’s victory. All these years the company was accused of selling unregistered securities.
Starting in 2020, the US Securities and Futures Commission (SEC) launched an active campaign against a number of large crypto projects. One of the high-profile cases was the confrontation with Ripple Labs, which the regulator accused of selling unregistered securities.
The result of the process was the decision of the court of the Southern District of New York that the sale of the XRP token does not constitute the offer and implementation of investment contracts. The SEC lost the case.
Experts believe that this event could be a turning point for the entire crypto industry, because before that, companies had not been able to win such important victories over the US financial regulator. Furthermore, the precedent will clearly be used. as an example by other companies in the process of proceedings before the SEC, in particular, Coinbase and Binance.
The brand token of the XRP project reacted extremely positively to the judge’s decision: during the day its value increased by 96% and the positive trend does not intend to stop.
Author:
Grigory Shcheglov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
