Good news came from the Ripple SEC Case, which the crypto money markets have been eagerly waiting for. The judge of the court ruled that XRP assets are not securities.
The judge of the case, Torres, said in his decision, XRP ruled that its sales cannot be evaluated within the scope of the securities contract. Thus, the first decision regarding the securities accusation brought by the SEC for altcoins was made. The decision is thought to set a precedent for other altcoins as well.
The opinion of Judge Torres of the Ripple Case on XRP is as follows;
XRP, as a digital token, is not an investment contract that must comply with the Howey test requirements.
According to the judge’s decision, sales of XRP do not constitute investment contracts. Although this decision came about public sales, there is a decision that institutional XRP sales are securities. In this case, Ripple company executives may face fines. Ripple (XRP) SEC Litigationhas long been seen as the most important case concerning the cryptocurrency market and altcoins. After the positive decisions to come from here, the perspective on other cases may also change positively.
While the XRP price was around $0.47 before the news, it surpassed the $0.60 level after the news.
Disclaimer: In accordance with Trust Project guidelines, BeInCrypto guarantees unbiased and transparent reporting on news. This news article aims to provide accurate and up-to-date information. However, readers are advised to independently verify all information and consult a professional before making any decisions based on this context.