Ripple’s recent win against the United States Securities and Exchange Commission (SEC) seems to have emboldened crypto firms in the space. As more companies take on the regulator in court, a lawyer has pointed out why XRP’s ruling is important.
Ripple Case Ruling a Game-Changer for Crypto Industry
A popular Twitter handle, MetaLawMan, has emphasized the significance of US District Judge Analisa Torres’s ruling on the Ripple case when she declared that XRP should not be identified as a security when sold on secondary exchanges.
“Everybody knows Judge Torres’ decision in Ripple is important,” he stated. But the XRP case and the recent ruling extend beyond the cryptocurrency firm itself.
Judge Torres’s ruling has shone through into Coinbase’s fight with the SEC. The SEC filed a lawsuit against Coinbase, stating that the crypto exchange company violated federal security laws by providing unregistered securities to the public.
However, the exchange has taken the fight to the regulator in a counter-lawsuit, supporting its arguments with the Ripple ruling. As MetaLawMan points out, the Coinbase legal team cited the Ripple case 13 times in its motion to dismiss the SEC case.
Everybody knows Judge Torres’ decision in Ripple is important.
How important?
The Ripple decision, and proceedings in the Ripple case, are cited 13 times by @Coinbase in its motion to dismiss the SEC’s case.
The Ripple fight benefits all of crypto.
— MetaLawMan (@MetaLawMan) August 7, 2023
Legal experts and cryptocurrency analysts believe that a positive outcome of the XRP case could establish a more stable and
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Author: Scott Matherson
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