Cryptocurrency firm Ripple, and the cryptocurrency ecosystem broadly, was the beneficiary of an extremely favorable ruling this week from U.S. District Judge Analisa Torres when she ruled that roughly half of its native token XRP’s sales did not breach investor protection laws and is not a security in the application of it being purchased and used for cross-border payments. The ruling was a major blow to the SEC which had brought an enforcement action against the company for selling unregistered securities. However, the judge did rule that the sale of XRP tokens to institutional investors to raise capital for the firm was a violation of US securities laws.
Ripple Ruling Deals a Blow to SEC’s Effort to Regulate Crypto
