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Despite Ripple’s partial victory in July, the legal battle between the company and the US Securities and Exchange Commission (SEC) continues at full speed.
In a recent legal development, a US judge ruled that Ripple’s XRP should not be classified as a security, effectively resolving the dispute between XRP and the SEC.
In a seismic victory for Ripple, Judge Analisa Torres of the Southern District of New York has concluded that Ripple’s Programmatic Sales and other distributions of XRP did not qualify as investment contracts.
Ripple’s XRP has undoubtedly been the hottest story throughout the past few weeks.
The U.S. Securities and Exchange Commission (SEC) has stated in a court filing that it intends to submit an “interlocutory appeal” in response to a judge’s ruling on Ripple’s programmatic sales of XRP.