On 13 July, the SEC vs Ripple case finally reached a decision. The judge stated that XRP was not a security. As per data from CoinMarketCap, XRP shot up by double digits in the last hour of the time of writing.
stated that the sale of XRP constituted the unregistered offer and sale of investment contracts in violation of Section 5 of the Securities Act. Furthermore, it also mentioned that,
The ruling also stated that the case would go to trial. Furthermore, the court stated that it would issue a separate order for setting a trial date and pre-trial deadlines.In 2020, the SEC filed a lawsuit against Ripple and its current and former CEOs for the sale of an unregistered security, XRP. The SEC also claimed that the sale of XRP was an IPO of unregistered securities.
We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments – speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive. Additionally, Ripple also claimed that they never received any notice from the SEC. Over the last two years, several important developments have taken place.
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