Ripple Ruling Deals a Blow to SEC’s Effort to Regulate Crypto

Ripple Labs wins a significant part of the SEC's case over the sale of XRP, but half of the sales are ruled illegal securities. The decision could impact other cryptocurrency exchanges facing similar SEC allegations.

July 13, 2023 . 9:42 PM

1 min read

Ripple Labs defeats part of the SEC's enforcement case over the sale of XRP.
Judge rules that half of Ripple's sales of XRP didn't violate investor-protection laws.
The other half of Ripple's sales, amounting to $728 million, were deemed an illegal sale of securities.
The decision could have implications for similar SEC allegations against major cryptocurrency exchanges.
XRP price rises over 70% after the ruling.