Ripple Ruling Spurs Hope for Crypto in Legal Gray Area, But Appeal Could Undo Precedent
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Federal Judge Analisa Torres ruled that Ripple did not violate securities laws by allowing retail XRP purchases on exchanges, giving the crypto industry hope.
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The ruling sets potential precedent for when crypto assets should be considered securities and subject to strict regulations.
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However, the precedent is limited since it's a single district court ruling that the SEC plans to appeal once the case concludes.
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Judge Torres' analysis was rejected by another judge in a similar SEC case, showing outlier potential.
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The ruling gives ammunition to other crypto companies facing legal issues, but its impact depends on if it's adopted more broadly on appeal, which may take until 2024.