“XRP is not a security. This victory for Ripple is a victory for the entire industry and a step towards regulatory clarity in the United States,” the company’s official account wrote on Twitter.
This ruling against the SEC is a setback in its fight that it has carried out against the industry and operators of the cryptocurrency market.
Previously, the SEC has indicted exchanges like Binance, with thirteen counts, and Coinbase with different counts. Now the SEC wanted to force Ripple to stop offering its XRP token on the premise that XRP was a security and therefore required further regulation.
“My absolute thanks to the teams that have been working tirelessly on this matter over the years. The judge’s decision affirms much of what this industry is fighting for and shows that the SEC does not have unlimited jurisdiction over cryptocurrency.” I mention on Twitter, Stuart Alderoty, legal director of Ripple.