In a landmark decision, Judge Analisa Torres ruled decisively in Ripple CEO Brad Garlinghouse’s favor by deciding that XRP is officially classified as a non-security asset. Pouring out his joy on Twitter, Garlinghouse thanked the Ripple team for their victory and declared it an unequivocal win not only to the company but also the entire United States cryptocurrency industry.
Ripple went on to disclose further victories won by this judgment in a subsequent blog post; asserting that the court expressly disqualified crypto tokens from being automatically labeled as securities. Other accomplishments included a dismissal of the SEC’s case revolving around Ripple’s prior XRP sales to institutional investors, ensuring complete regulatory compliance and full language clarity. joy by such news, as the decision extinguishes the ambiguity surrounding the status of cryptocurrency in the US.
Earlier on, Garlinghouse maintained that this momentous win deals a great blow to SEC’s strategy of enforcing regulations – one he hopes will encourage the passing of clear and comprehensive congressional guidance for the entire crypto market. Reflecting the same sentiment, US congressman Mike Flood spoke up in support of legitimate legislation. His language was fitting in its thunderousness.
All things considered, Joshua Torres’ ruling seemingly issued a resounding triumph for Ripple and then some. Representative that this victory held sovereign legal importance gave it the additional vital quality it needed for Garlinghouse to transport into the collectivist mindset. The grinding court case drama between the organization and the SEC may have come to a foreseeable conclusion, but Brad is insistent that this is merely the first step in ushering in a hopeful, flourishing future for crypto in the US.
