Ripple Labs has secured a significant legal victory in its ongoing battle with the U.S. Securities and Exchange Commission (SEC).
A federal judge ruled that XRP, Ripple’s native cryptocurrency, is not inherently a security, a decision that could have far-reaching implications for the cryptocurrency industry.
The lawsuit, which has been closely watched by the crypto community, centered on whether XRP should be classified as a security under U.S. law.
The court’s decision could set a precedent for how other cryptocurrencies are regulated, potentially easing the regulatory burden on crypto projects and fostering greater innovation in the space.
Following the ruling, XRP saw a sharp increase in price, with market confidence boosted by the legal clarity. Ripple’s CEO, Brad Garlinghouse, expressed optimism about the future of the company and its ability to continue expanding its cross-border payment solutions. The SEC is expected to appeal the decision, but for now, the ruling marks a significant win for Ripple and the broader crypto community.
