In a significant victory for Ripple Labs, the United States district court in the southern New York district ruled in their favor on July 13th, dismissing a case brought by the SEC dating back to 2020. Judge Analisa Torres granted summary judgment, declaring that Ripple's XRP token is not a security. The SEC's lawsuit aimed to halt Ripple from offering XRP, claiming it was a security and required additional regulation. The court's decision was in favor of Ripple, except for the Institutional Sales, allowing them to continue their operations. This ruling has important implications for the future of XRP and the broader cryptocurrency industry.
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