Upon the positive developments in favor of Ripple in the ongoing lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC), a statement came from the CEO of the company and the founder of Cardano.
What happened in the SEC and Ripple case?
SEC launched against cryptocurrencies the securities war The new decisions of the judge in the case of Ripple and the SEC, which are the cornerstones, energized the crypto money markets. Judge’s decisions investment contract offer of ripples (XRP) sold to the public He said it wouldn’t. Except for the sales made to the public, the judge on the investment contract proposal, which is evaluated under several different articles, company’s own internal and external expenditures. also for XRPs used no investment contract decided.
Since these decisions were key for the fight against Ripple and the SEC, they spread very quickly in the markets. But not only on behalf of the Ripple front, but also on behalf of the SEC. since it concerns all cryptocurrencies that qualify as securities made quite an impact.
Not all decisions are in favor of Ripple
Although positive results were achieved for Ripple in the judge’s decisions, it was said that sales to institutional investors are investment contracts. The judge who distinguishes individual investors from institutional investors, its sales on the corporate side are treated as securities. by describing a two-way decision it has arrived.
Statement from Ripple CEO and Cardano founder after the lawsuit
Ripple CEO Garling House evaluated the decision as a victory in his post on his official Twitter account and included the following sentences in his words:
“We have said since December 2020 that we have been on the right side of the law and looking back we will be on the right side. Thank you to everyone who helped us make these decisions that will impact all cryptocurrency developments in the US.”
In the accompanying statement from the founder of Cardano (ADA), another crypto currency that is considered a security by the SEC and is under a blockade:
“One small step for XRP, one big leap for cryptocurrencies.” said.