Ripple’s Legal Victory: A Boost for XRP and the Crypto Community
On August 7th, 2024, the XRP community erupted joyfully as Judge Analisa Torres delivered the final judgment in the longstanding legal battle between the SEC and Ripple. The ruling significantly favoured Ripple, requiring the company to pay only a $125,035.150 fine, a substantial reduction from the SEC's initial $2 billion demand. This decision prompted celebrations among Ripple supporters and the wider cryptocurrency industry.
Brad Garlinghouse, CEO of Ripple, expressed his satisfaction with the outcome, stating that the court's decision provides clarity for the company to continue its growth. He emphasized that the ruling signifies a victory for Ripple, the entire crypto industry, and the rule of law. The favourable judgment is expected to instill confidence in the regulatory landscape for digital assets, potentially paving the way for further industry development and growth.
The XRP community and the cryptocurrency industry at large are celebrating this significant legal win for Ripple, marking a turning point in the ongoing battle with the SEC.
Ripple's Legal Battle: A Test of Patience with Promise of Victory
The legal battle between Ripple and the California judge has been a tumultuous journey for XRP enthusiasts. The initial lawsuit alleging violations of securities laws caused a stir within the cryptocurrency community. According to Ripple's legal chief adviser, Stuart Alderoty, a California judge dismissed all allegations of Ripple violating federal securities law, clarifying CEO Brad Garlinghouse's from a 2017 interview. Additionally, the ruling in New York affirming that XRP is not a security remains unaltered.
However, amidst the turbulence, a ray of hope emerged on July 13, 2023, when it was announced that XRP was not deemed a security by Judge Analisa Torres. This pivotal decision came as a beacon of encouragement for Ripple and its supporters. It showcased that perseverance and patience in adversity could yield favourable outcomes.
The legal battle with XRP is a testament to the enduring spirit of the Ripple community. Despite the initial setbacks, the community held firm, embodying the wisdom of Aristotle's quote: "Patience is bitter, but its fruit is sweet." This quote could not be more relevant as the Ripple community continues to weather the storms, unwavering in their belief that victory is within reach.
As the legal proceedings unfold, Ripple's community can draw strength from the enduring power of patience and the belief that their efforts will bear fruit quickly.
SEC Ordered to Pay 1.8 Million US Dollars to Crypto Company's DEBT Box
In a recent development on May 28, 2024, a U.S. federal judge ruled in favor of Digital Licensing Inc., also known as 'DEBT Box', compelling the Securities and Exchange Commission (SEC) to cover approximately $1.8 million in legal fees associated with the case. This decision casts a spotlight on the persistence and determination displayed by crypto companies, reminiscent of Ripple's unwavering commitment in the face of legal challenges.
As Ripple continues to navigate its legal battle with the SEC, this latest ruling serves as a testament to the resilience required to withstand regulatory scrutiny. Despite securing several victories against the SEC, Ripple's perseverance in pursuit of a favorable resolution mirrors the resolve demonstrated by 'DEBT Box'. This parallel underscore the challenges faced by innovative companies in the crypto space and the tenacity needed to overcome regulatory obstacles.
Federal Court Sanctions SEC for Misleading Evidence Presentation
On March 18, 2024, a significant ruling was made as the Federal Court imposed sanctions on the Securities and Exchange Commission (SEC) for presenting misleading evidence. This development became known through a tweet on a platform now known as X.
The case revolved around Debt Box and the SEC's actions in 2023. Initially, the SEC filed a lawsuit against Debt Box, alleging certain violations. However, the tables turned when Debt Box filed a motion to dissolve a temporary restraining order. They argued that the SEC had provided false information to the court, specifically regarding allegations that the company had shifted its funds and closed its bank accounts.
Because of this turn of events, the Federal Court deemed the SEC's evidence presentation misleading and sanctioned the agency accordingly. An important implication of this ruling is that the SEC is now required to cover the legal expenses incurred by Debt Box due to the misleading information presented.
This ruling serves as a reminder of the importance of transparency and accuracy in legal proceedings, emphasizing the need for regulatory bodies like the SEC to uphold the highest standards of integrity in their actions and evidence presentation.
The Significance of Clarity and Transparency in Crypto: A Case Study of Ripple Labs and XRP
Introduction:
In the world of cryptocurrencies, clarity and transparency play pivotal roles in establishing trust and fostering the growth of digital assets. This article delves into the importance of clarity and transparency in the crypto space, with a particular focus on Ripple Labs and its XRP token. Despite facing legal challenges from the U.S. Securities and Exchange Commission (SEC) since 2020, Ripple Labs has demonstrated commitment to transparency, leading to a significant legal victory in October 2023.
What is Clarity in Crypto?
Clarity in the crypto space refers to the clear understanding and unambiguous definition of a cryptocurrency's attributes, purpose, and legal status. It involves providing comprehensive information about a project's goals, technology, governance, and regulatory compliance. Clarity helps investors, users, and regulators evaluate the risks and benefits associated with a cryptocurrency, enabling more informed decision-making.
What is Transparency in Crypto?
Transparency in the crypto realm entails open disclosure of pertinent information regarding the development, operations, and finances of a cryptocurrency project. Transparent projects strive to provide real-time data on transactions, supply, and distribution of tokens, as well as the identities of team members and key stakeholders. By being transparent, crypto projects aim to enhance accountability, build trust, and mitigate concerns related to fraud, manipulation, or illicit activities.
Ripple Labs' Commitment to Clarity and Transparency:
Ripple Labs, a prominent crypto company, has exemplified the significance of clarity and transparency through its operations and the XRP token. Despite the SEC's legal battle, Ripple Labs has maintained an unwavering commitment to transparency, providing detailed information about its technology, partnerships, and regulatory compliance efforts.
Clarity Achieved: Legal Developments and XRP's Status:
Between July 13th, 2023, and October 2023, Ripple Labs achieved notable clarity regarding the legal status of its XRP token. In a significant ruling, Judge Analisa Torress declared that XRP is not a security, denying the SEC's appeal. This ruling reinforced the belief that XRP is a digital asset distinct from securities, providing clarity for Ripple Labs, XRP holders, and the broader crypto ecosystem.
Dismissal of SEC Case Against Ripple Executives:
Furthermore, in October 2023, the SEC dismissed its case against Ripple Labs' CEO, Brad Garlinghouse, and Executive Chairman, Chris Larson. This dismissal further strengthened Ripple Labs' position and bolstered the belief in the company's commitment to transparency and compliance.
Conclusion:
Clarity and transparency are fundamental pillars in the crypto industry, enabling trust, fostering growth, and attracting broader adoption. The case study of Ripple Labs and its XRP token demonstrates the significance of these principles. Through their commitment to transparency and the recent legal developments, Ripple Labs has not only gained clarity regarding the regulatory status of XRP but also reinforced the importance of transparency in the crypto space. As the crypto industry evolves, maintaining clarity and transparency will continue to be essential for the long-term success of digital assets.
1. Research
2. Research
3. Research
4. Research
Ripple Means Business: SEC Dismisses Lawsuit Against Brad Garlinghouse and Chris Larsen
On October 19, 2023, the crypto community celebrated a significant victory when the US Securities and Exchange Commission (SEC) dismissed the lawsuit against Ripple’s CEO, Brad Garlinghouse, and executive chairman, Chris Larsen. This ruling was a major relief for Ripple, which has been facing this legal battle since December 2020.
In a tweet posted by Garlinghouse, he celebrated the dismissal and claimed that the SEC targeted them to destroy both their reputation and Ripple. Garlinghouse said, "Chris and I were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build for over a decade. The SEC repeatedly kept its eye off the ball while secretly meeting with the likes of SBF, failing again and again to protect US consumers and businesses."
Garlinghouse also questioned how much taxpayer money was wasted by the SEC in the case against Ripple. He added that this victory against the SEC feels vindicating, particularly since the lawsuit did not contain any fraud or misrepresentation allegations against them.
Chris Larsen, in his tweet, shared his thoughts about the consequences of this lawsuit on the US's standing in global innovation. He said, "The last three years, we've seen a rogue administrative state that needs to be held accountable for its actions, not just an investigation into the conflicts of interests that led to these baseless claims, but how the US actively demolished its global standing as the home for innovation, with thousands of jobs moving overseas. Enough is enough."
The SEC had accused Garlinghouse and Larsen of conducting unregistered securities offerings worth over $1.3 billion. Still, this ruling dismisses the SEC's claims against Ripple's leadership. While the case has not been resolved entirely yet, it represents a crucial turning point for Ripple's legal situation.
Furthermore, the dismissal has provided a boost for Ripple's XRP, which experienced an increase of almost 20% immediately following the news. Overall, this decision could serve as a positive indicator for the crypto community, as the SEC's rigorous and controversial crackdown on crypto may begin to lessen in intensity.
In conclusion, the dismissal of the lawsuit against Brad Garlinghouse and Chris Larsen is a welcome outcome for Ripple and the wider crypto community. However, there is still a long way to go before the company can achieve complete victory.
A Significant Moment For Ripple
On the 3rd Wednesday of 2023, Ripple was granted a major payments institution license by the Monetary Authority of Singapore. This is great news for Ripple, as it enables the company to continue providing digital payment token services in the fast-growing region. The license granted to Ripple allows the company to expand its services and offer innovative payment solutions to customers.
This significant achievement is the result of Ripple's continuous effort to ensure its compliance with global regulatory requirements. The license granted to Ripple demonstrates its commitment to regulatory compliance and its ability to provide reliable and safe services to customers in the digital payment space.
Meanwhile, the U.S. Securities and Exchange Commission's attempt to appeal its case against Ripple has been denied by Federal Judge Annalisa Torres. This is a major setback for the SEC as they try to prosecute Ripple over allegations of unregistered security sales.
The judge's ruling is considered a huge victory for Ripple, which has maintained its innocence from the start. The denial of the appeal from the SEC proves Ripple's legitimacy as a digital asset. This outcome reaffirms that Ripple is not a security but a cryptocurrency, and it provides regulatory clarity to the entire crypto industry.
In summary, Ripple's latest achievement in Singapore and the denial of the SEC's appeal highlight the company's continuous efforts to promote transparency and compliance in the cryptocurrency industry. As Ripple expands its services and its footprint globally, this license grants the company access to a highly active payment market, thus enabling it to compete effectively with traditional payment processors.
Furthermore, this ruling could also lead to a re-evaluation of cryptocurrency's position in the current financial system, as the definition of cryptocurrency has been under intense scrutiny from regulators for quite some time now.
Overall, the granting of the license by Singapore's Monetary Authority and the ruling against the SEC are significant milestones that indicate the future of digital assets is indeed promising.
Grayscale's Victory and Its Ripple Effects on the Crypto Industry
On August 29, 2023, the D.C. Circuit made a decision that will change the course of the investment world forever. The court ruled in favor of Grayscale Investments in their lawsuit challenging the SEC's decision to deny GBTC's conversion to an ETF. This ruling is a massive win for Grayscale, as it allows them to continue their mission of bringing institutional-grade investment products to the masses.
Grayscale is a cryptocurrency asset management company that was founded in 2013. The company has become a major player in the cryptocurrency space, with assets under management totalling more than $30 billion Grayscale's flagship product is the Bitcoin Trust (GBTC), which is the world's largest publicly traded Bitcoin investment vehicle.
Grayscale's journey to obtain approval for the conversion of GBTC to an ETF has been a long and challenging one. The SEC's decision to deny the conversion was met with frustration and disappointment from Grayscale and their investors. However, the company remained persistent and filed a lawsuit challenging the SEC's decision.
The D.C. Circuit's ruling in favour of Grayscale is a significant milestone for the company and the cryptocurrency industry. It demonstrates that the courts are willing to recognize the legitimacy of cryptocurrencies and the importance of providing investors with regulated investment products.
The CEO of Grayscale, Michael Sonnenshein, expressed his gratitude to the company's investors and supporters, saying "Thank you to everyone who has been on this journey with us, especially our investors. We are grateful for your support and encouragement." Sonnenshein went on to say that the ruling "will pave the way for the development of more innovative and accessible investment products in the future."
The ruling is also a victory for cryptocurrency advocates who have long argued that the SEC's stringent regulations are hindering innovation and preventing investors from accessing the full potential of the cryptocurrency market. This ruling could potentially open the floodgates for the development of more cryptocurrency ETFs and other investment products.
In conclusion, the D.C. Circuit's ruling in favor of Grayscale is a meaningful change for the cryptocurrency industry. It is a clear indication that cryptocurrencies are gaining acceptance in the investment world and that institutional-grade investment products are becoming more accessible to the masses. Grayscale's persistence in their quest for approval has paid off, and the company is now poised to lead the way in the development of new and innovative investment products for the digital age.
Ripple Announced to Celebrate Victory Against Sec in New York City
Introduction:
On July 13, 2023, Ripple, the blockchain-based payment company, achieved a significant legal victory against the U.S. Securities and Exchange Commission (SEC). This triumph marked a turning point in the company's journey, and Ripple's CEO, Brad Garlinghouse, took to Twitter on August 28, 2023, to invite the community to join him in celebrating this remarkable achievement. In this blog post, we delve into the details of Ripple's win and explore the anticipation surrounding the upcoming victory party.
The Road to Victory:
For the past few years, Ripple has been embroiled in a legal battle with the SEC over the classification of its cryptocurrency, XRP. The SEC alleged that Ripple had conducted an unregistered securities offering, posing a significant threat to the company's operations. However, on July 13, 2023, Ripple emerged victorious when a federal judge ruled in its favor, dismissing the SEC's claims. This decision not only vindicated Ripple but also set a precedent for the broader cryptocurrency industry.
Brad Garlinghouse's Tweet:
Following the court ruling, Brad Garlinghouse, the CEO of Ripple, took to Twitter to express his joy and gratitude. In his tweet on August 28, 2023, Garlinghouse declared, "As promised – it's time for that proper victory party." The tweet was accompanied by an invitation to the Ripple community to join him in celebrating this momentous occasion on September 29 in New York City.
Celebrating Success:
The invitation from Garlinghouse sparked a wave of excitement among Ripple enthusiasts and the broader cryptocurrency community. The victory party signifies not only Ripple's legal triumph but also the resilience and progress of the entire cryptocurrency ecosystem. It serves as a moment to reflect on the challenges faced by industry and the milestones achieved along the way.
The celebration on September 29 in NYC promises to be an event filled with jubilation and camaraderie. It will be an opportunity for Ripple supporters, industry leaders, and enthusiasts to come together and toast to the company's success. Moreover, the event will serve as a platform for discussions on the prospects of the cryptocurrency industry and Ripple's role in shaping it.
Conclusion:
Ripple's victory against the SEC on July 13, 2023, was a monumental achievement for the company and the broader cryptocurrency industry. Brad Garlinghouse's tweet inviting the community to a victory party in New York City on September 29 has generated excitement and anticipation. This celebration not only marks Ripple's legal vindication but also symbolizes the resilience and progress of the cryptocurrency ecosystem. As we raise our glasses in celebration, let us recognize the importance of this victory and the potential it holds for the future of blockchain technology and digital currencies.
The Ripple Standard: A Revolutionary Concept That Gave Birth to XRP
Chris Larsen, co-founder of Ripple, describes the backstory of how Ripple got started.
Introduction:
In the ever-evolving landscape of the cryptocurrency market, few projects have captured as much attention as Ripple and its native digital asset, XRP. With its unique approach to cross-border transactions, Ripple has sought to revolutionize the way we send money globally. However, its journey has not been without challenges, including a notable court case against the U.S. Securities and Exchange Commission (SEC). This blog post will delve into the story of Ripple, the court case, and the remarkable resilience of the XRP community, while also exploring the future of Ripple, XRP, and its passionate community.
A Brief Background:
In 2012, a group of innovative entrepreneurs led by Chris Larsen and Jed McCaleb introduced the world to Ripple, a platform that would revolutionize how the world moved money. For the first time in history, it became possible to send any currency, from anywhere, to anyone, instantly, securely and at almost no cost. Over the years, the Ripple network has grown significantly, and the platform now includes a digital asset called XRP. This asset, used to facilitate instant and cost-effective cross-border payments, is one of the most popular digital assets in the world.
Understanding Ripple and XRP:
Ripple is a San Francisco-based technology company that aims to transform the traditional banking system by facilitating faster and more efficient cross-border transactions. At the heart of Ripple's ecosystem lies XRP, a digital asset that serves as a bridge currency for facilitating the transfer of value between different fiat currencies. XRP boasts impressive transaction speeds and low fees, making it an attractive choice for financial institutions seeking to streamline their operations.
The SEC Court Case:
In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company had conducted an unregistered securities offering by selling XRP. This legal action sent shockwaves through the crypto community, causing uncertainty and volatility in the XRP market. The case garnered significant attention due to its potential implications for the broader cryptocurrency industry.
Ripple's Victory:
On July 13, 2023, a landmark victory was achieved by Ripple as the court ruled in favor of the company. The judge determined that XRP should not be classified as a security, bringing much-needed clarity and relief to Ripple and its supporters. This ruling not only validated Ripple's business model but also set an important precedent for the regulatory treatment of digital assets.
Resilience of the XRP Community:
Throughout the court case, the XRP community demonstrated unwavering resilience and dedication. Despite the uncertainty surrounding the outcome, XRP holders and enthusiasts stood by Ripple, rallying behind the project, and displaying their unwavering support. This steadfastness is a testament to the strong community that has formed around Ripple and XRP, underscoring their belief in the project's transformative potential.
The Future of Ripple, XRP, and the Community:
With the SEC case behind them, Ripple and XRP are poised for a promising future. The court ruling provides a solid foundation for Ripple to further expand its partnerships with financial institutions and accelerate the adoption of its innovative technology. As Ripple continues to forge ahead, the resilience and commitment of the XRP community will play a vital role in driving the project's success. The community's passion, knowledge-sharing, and engagement will contribute to the ongoing growth and development of Ripple and XRP.
Conclusion:
The Ripple standard of XRP has triumphed over adversity, emerging stronger and more determined from its legal battle with the SEC. Ripple's victory not only cleared the regulatory cloud hanging over the project but also displayed the tenacity and resilience of its community. With the court case in the rear-view mirror, Ripple and XRP are poised to shape the future of cross-border transactions and revolutionize the financial industry. As we look ahead, one cannot help but be optimistic about the potential of Ripple, XRP, and the passionate community that continues to support them.
Ripple's Victory: A Catalyst for Confidence in the XRP Community
Introduction:
Despite the recent legal battle with the Securities and Exchange Commission (SEC), the Ripple community has every reason to feel optimistic and proud. Judge Torres' careful deliberation and subsequent ruling, declaring XRP not a security, should serve as a resounding victory. This article aims to encourage and inspire the XRP community to maintain their unwavering belief in the long-term potential of Ripple.
Embracing the Judge's Ruling:
Judge Torres' decision to declare XRP not a security was not reached hastily. Her thorough examination and thoughtful deliberation underscore the strength of Ripple's case. This ruling is no small feat; it is a massive win for the XRP community. So, even amidst the SEC's potential appeal and temporary price fluctuations, it is essential to remain resolute and confident. Let the judge's verdict serve as a reminder that XRP has solid footing within the legal framework, bringing stability and credibility to its ecosystem.
Focus on the WHY:
Now is the time to refocus on the fundamental reasons why you support Ripple. Remember, your WHY is what truly matters. The technology, the potential for cross-border transactions, and the transformative impact Ripple can have on the global financial system remain unchanged. By keeping your attention on the long-term goals and the underlying value Ripple brings, you can weather any short-term uncertainties. Stand firm in your conviction that Ripple's success is not solely dependent on legal battles but on its innovative solutions and widespread adoption.
Looking Beyond the SEC Signal Appeal:
While the SEC may choose to appeal the ruling, it is important to remember that the legal process takes time. The XRP community should not allow the SEC's potential actions to create fear or doubt. Instead, view it as an opportunity for Ripple and its legal team to further strengthen their case. The confidence displayed by Judge Torres is a testament to the strength of Ripple's position. Stay informed, support the legal proceedings, but remain focused on the long-term vision. Ripple's success will be determined by its ability to revolutionize the financial industry, not by short-term legal maneuvers.
Conclusion:
The Ripple community should celebrate Judge Torres' ruling, recognizing it as a significant victory. Embracing this decision, staying focused on long-term goals, and maintaining unwavering confidence will be key to thriving in the face of legal challenges. Now is the time to come together, support Ripple, and continue driving innovation in the world of digital payments.
Triumphant Tweet from Ripple and the XRP Community
Ripple wins : SEC losing its lawsuit against Ripple.
On July 13, 2023, Ripple, led by its CEO, emerged victorious in a legal battle. The Ripple lawyer successfully defended their case, resulting in a significant win for the company. The XRP community took to Twitter, celebrating this momentous achievement with quotes of triumph and optimism.
Observe the chosen excerpt of quotes, statements, and responses originating from the Ripple XRP community, Congress and various exchanges concerning Judge Torres' decisive ruling, wherein XRP is declared not to be classified as a security.
"XRP, as a digital token, is not in and of itself a 'contract, transaction, or scheme' that embodies the Howey requirements of an investment contract." -Judge Torres
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres has issued her Ruling on the Parties Motions for Summary Judgment.
- James K. Filan
One of many. Make no mistake: every exchange in the United States should relist XRP IN SOLIDARITY with today’s decision: @coinbase @krakenfx #Crypto.com, @Gemini etc.
Would not be a proper victory without my friend @attorneyjeremy1 doing a video breaking down what the ruling means to you and me. In the last 2.5 years I have met amazing people. Jeremy and Thien-Vu Hogan are two of those amazing people who also happen to fantastic lawyers.
- John Deaton
Has the verdict come in??? Molly Elmore
The price of #XRP is up close to 30% on the Summary Judgment motion. - Eleanor Terrett
The most important part of this ruling:“XRP, as a digital token, is not in and of itself a “contract, transaction[,] or scheme” that embodies the Howey requirements of an investment contract.” This is a now a matter of law (not up for trial.) We said in Dec 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the US. More to come.
- Brad Garlinghouse
Hoping yesterday’s decision is the wake-up call that Congress needs. This ruling directly undercuts the SEC’s claims that nearly all tokens are inherently securities – likely to set a positive precedent for other digital tokens in the US.- Brad Garlinghouse
A huge win today – as a matter of law - XRP is not a security. Also, a matter of law - sales on exchanges are not securities. Sales by executives are not securities. Other XRP distributions – to developers, to charities, to employees are not securities.- Stuart Alderoty
I hereby declare July 13th victory day.
- David Schawarz
A lot of scammers are taking advantage of the recent good news to try to cheat and steal. There are no airdrops, giveaways, or special offers associated with this ruling.
“The first thing I should have done when I heard about the ruling was buy Coinbase stock”
- David Schawarz
The recent court ruling has sparked a surge in excitement around Ripple. Beware of scam Ripple accounts or fake executive accounts promoting "XRP Giveaways" or "XRP Airdrops". Remember, Ripple and its executives will NEVER ask you to send funds anywhere.
- Ripple
XRP is not a security.
This victory for @Ripple is a win for the entire industry and a step toward regulatory clarity in the U.S. A huge thank you to @bgarlinghouse, @chrislarsensf, and @s_alderoty for their leadership and the #XRPCommunity for their continued support.
- Ripple
I haven’t been as vocal on the lawsuit as @bgarlinghouse and @s_alderoty, but today is a huge win for crypto in the US – big thanks to all who supported us along the way .
- Chris Larsen
On a personal note, I am so happy to see the excitement on XRP-Twitter after the last couple years of frustration.
Breathe it in - that's Justice. That's what lawyers live for. I am so happy for YOU!”
- Jeremy Hogan
I always thought my initial reaction would be jumping up and down. I actually want to cry. We left it all on the field.
You should all be proud! We are the good guys. - Digital asset Investor
This is such a great win, not only for #Ripple, Brad, Chris & the company, but also 4 the extended #XRP Community. The #XRPArmy hung in there through thick & thin, rumors and lies, hecklers and FUD. We look forward to the future & the important place Ripple will play in history!
- Linda P. Jones
Ripple's XRP Rulling
A Milestone Win For Crypto Industry As Expected in 2023.
- Brian Rose
We've read Judge Torres' thoughtful decision. We've carefully reviewed our analysis. It's time to relist.
- Paulrewal.Eth
All secondary crypto sales are not securities offerings! EVERYONE owes Ripple for this win that they generated for the entire industry. Thank you for patching the boat @bgarlinghouse @chrislarsensf @s_alderoty @johnedeaton1
- LBRY
The sale of XRP on exchanges is NOT a security. Which means the sales of all cryptos on exchanges are NOT securities and @SECGov and @GaryGensler have NO jurisdiction over them. This is a watershed moment that relegates the SEC to TradFi and makes it a dinosaur regulator. Buh-bye
- Cameron Winklevoss
The Ripple case is a monumental development in establishing that a token is separate and distinct from an investment contract it may or may not be part of. Now, let’s make it law.
- Tom Emma
Given today's ruling that the sale of XRP on exchanges is not a security, @Gemini is exploring the listing of XRP for both spot and derivatives trading.
- Gemini
XRP family, today we celebrate!!! After 2 & 1/2 years it's OVER, and we got what we wanted. XRP IS NOT A SECURITY.
Judge Torres took the SEC's "embodiment theory" and placed it in the paper shredder WHERE IT BELONGS. I just love this community. And we made it! $XRP
- Moon Lambo
Breaking news XRP not a security #xrp #Crypto.
- Coach, JV
The #XRP pump we're witnessing is just a glimpse of what's to come. Momentum has been building, and #institutional adoption is on the horizon. Stay vigilant, stay focused. The real game is about to begin.
- Black Swan Capitalist
July 13th 2023 New York City Ripple office, No words necessary. I changed my career to “Blockchain” in 2016 and many of my friends doubted my decision. What an amazing day to be part of Ripple and part of the Crypto world.
- Antony Welfare
#XRPCommunity #XRP This is to me the most important part of the decision. Programmatic Sales are not securities, and because a Programmatic Buyer “stood in the same shoes as a secondary market purchaser,” secondary market sales are not investment contracts — NOT SECURITIES.-James K Filan
The #Ripple and #XRP decision, in short:
Judge Torres’ ruling is a victory for the digital assets space as it sets a precedent in saying that the sale of $XRP to the public is not to be considered a security. The SEC will most likely appeal the decision, meaning that the final ruling is yet to be presented, but the judge’s decision certainly carries weight.
-Nexo
Who is on the train now?? Incredible work by the entire Ripple Team!
-Rosie Rio’s
Needless to say, regulating digital assets through enforcement only had a dreadful day in court last week. In the wake of the resounding decision out of the SDNY Ripple case, must reassess its continued assault on the crypto industry. My letter to Chair Gensler:
- Rep. Ritchie Torres
After the Ripple decision, its critical that @GaryGensler engage with Congress to ensure everyday digital asset users are protected.
"Legislation would do far more to prevent the future collapses of digital asset firms than enforcement actions."
- Financial Services GOP
I join my colleague in calling for Gary Gensler to embrace a different approach.The Ripple case should make clear that Congress needs to provide clarity that is lacking for investors, innovators, regulators, and even the courts. I remain hopeful that we can agree on a digital asset market structure bill that will do this appropriately and swiftly.
- Warren Davidson
"It was a big big win for Ripple and a big big win for the #crypto community," says @novogratz after a judge ruled $XRP is not a security. "Let's not let Gary Gensler put lipstick on a pig. They lost and they know it."
- Squawk Box @SquawkCNBC