2023-07-13 16:00:00
Breaking. We learn it now. Justice Torres in charge of the case Ripple contre la Securities and Exchange Commission (SEC) ruled: XRP is not a security.
This decision brings to an end a long debate over several years on the classification of cryptocurrencies in the USA. A debate that highlighted thesometimes deleterious attitude of the SEC and its boss Gary Gensler against cryptocurrencies and its industry. It will be noticed that the price of XRPthe cryptocurrency of Ripple, exploded within minutes of the long-awaited announcement.
Nuances remain in place all the same. Even though it is now known that Ripple is not a security, certain conditions apply to this classification. The judge, an expert in the neither yes nor no game, declared:
“For the foregoing reasons, the SEC’s motion for summary judgment is GRANTED with respect to institutional sales, and otherwise DENIED (…) Defendants’ motion for summary judgment is GRANTED with respect to programmatic sales, other distributions and feedback sales and Garlinghouse, and DENIED as to institutional sales.”
We should also remember that the decision has not yet been established and that the various mechanisms of American justice (appeals and other trials) will make the decision slow in coming.
However, while the race for ETF Bitcoin is raging, this victory for Ripple puts a little balm to the heart of an entire ecosystem that is sometimes dependent on the orders and desires of the American regulator. Case to follow.
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