The intricate Ripple Labs Inc. v. US Securities and Exchange Commission (SEC) legal battle surrounding XRP is anything but over, contrary to popular assumption. John Deaton, XRP holder’s lawyer, took to Twitter to point out what parts of the case could proceed to trial; only the claim ofwhether Ripple founders Chris Larsen and current CEO, Brad Garlinghouse aided and abetted the distribution of XRP directly to institutional companies, not the general market.
The verdict on XRP non-security status comes as a breath of fresh air to the community who held immense anxiety for the after effects of the remaining aspects of the lawsuit. On putting this contention to rest, crypto exchanges have started succumbing to this understanding claiming the top spot amongst traders. What’s more, the US Securities and Exchange Commission has also categorized several top altcoins including Cardano, Solana, Polygon and The Sandbox amongst others as investment contracts.
The extension of XRP’s ruling to future consequence of crypto assets has attracted positive attention to the Coinbase business which is expected to benefit froma rising tide lifting all boats, as the long ranit to an end. Seeking legal action is proving to be a laborious and futile task for the SEC and speculation remains in the possibi lit of generating encouraging precedents.
