Judge Analisa Torres’ ruling in favor of Ripple against the US Securities and Exchange Commission (SEC) has had several impacts on XRP by extension. Highlighting one of them, Ripple’s Chief Legal Officer (CLO) Stuart Alderoty mentioned how the token stands out in the US because of the court’s decision.
XRP’s Unique Status Following Court’s Ruling
In an interview with CNBC, Alderoty noted that XRP had gained much-needed clarity in the US following the court’s decision on July 13. Also, XRP is now “uniquely classified” as a non-security in the US.
On July 13, Judge Torres ruled that XRP wasn’t a security and that Ripple’s XRP programmatic sales and other distributions didn’t constitute investment contracts. Ripple’s President Monica Lang had also spoken about how the ruling provided clarity for the company and opened the door for it to expand its business in the US and globally.
Despite Ripple’s victory against the SEC and XRP gaining a unique status, Alderoty doesn’t believe every crypto company and token should go
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Author: Scott Matherson
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