XRP wins, SEC Loses as court rejects SEC appeal of court ruling XRP is not a security!
- In another stunning legal loss, the SEC loses its latest legal battle against XRP / Ripple , as its appeal is dismissed.
- The SEC had appealed the court ruling that XRP was not s Security, and its appeal has been dismissed!
- This is great news for cryptocurrency in general, and specifically a positive development for Coinbase who is currently locked in a legal battle with the SEC.
- And Library LBRY which settled an SEC suit is appealing its settlement, as the SEC levied penalties killed the project.
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Public Document
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This ruling is bullish
- This ruling, that XRP sold in secondary sales, which means on e changes is not a security, represents the first bit of clarity for the whole industry. And while a court ruling isn’t the same as a regulatory rule or a law passed by Congress. It creates legal precedent which is very valuable in the current regulation by enforcement environment.
- Coinbase continues to fight its own legal battle against the SEC, as it was accused by the SEC of selling unlicensed securities. The XRP Ripple case strengthens their legal arguments also.
- It is a rare ray of light on a cloudy day. So enjoy it.
I have always knew earlier that it will be difficult for SEC to win this case
It was seemingly a solid win for Ripple, but with unlimited funds to engage legal action it wasn't clear if the SEC would get a more sympathetic judge in Appellate Court. NOw that we know the answer is no, we / I/ Ripple is relieved. Now comes the next step, will SEC change or continue it's current behvior?