{"id":1972047,"date":"2023-07-13T14:19:02","date_gmt":"2023-07-13T18:19:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-rules-favorably-in-ripple-case-in-major-boon-for-crypto-industry\/"},"modified":"2023-07-13T14:21:11","modified_gmt":"2023-07-13T18:21:11","slug":"judge-rules-favorably-in-ripple-case-in-major-boon-for-crypto-industry","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-rules-favorably-in-ripple-case-in-major-boon-for-crypto-industry\/","title":{"rendered":"Judge rules in favor of Ripple, a major win for crypto industry."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjudge-rules-favorably-in-ripple-case-in-major-boon-for-crypto-industry%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1972047&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>A Major Win for Ripple and the Cryptocurrency Market<\/h2>\n<p>A federal judge made a groundbreaking ruling on Thursday, declaring that cryptocurrency Ripple&#8217;s token is &#8220;not necessarily a security on its face.&#8221; This decision has significant implications not only for Ripple but also for other digital assets in the market.<\/p>\n<blockquote>\n<p>The ruling comes as a result of a lawsuit filed by the Securities and Exchange Commission (SEC) in 2020, accusing Ripple of selling the token without proper registration. While the judge&#8217;s ruling acknowledged that some token sales did violate securities law, it also stated that sales on public cryptocurrency exchanges did not constitute securities offerings.<\/p>\n<\/blockquote>\n<p>This ruling has sent shockwaves through the cryptocurrency market, causing a surge in various digital assets. Ripple&#8217;s token, XRP, skyrocketed by an impressive 34% to reach 63 cents per coin shortly after the announcement. Other cryptocurrencies like Cardano and Solana also <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pushing-college-for-all-makes-americans-poorer-heres-what-we-need-instead\/\" title=\"Pushing \u2018College For All\u2019 Makes Americans Poorer. Here\u2019s What We Need Instead\">experienced significant gains<\/a>, with increases of over 10% and 14%, respectively. Even the two largest cryptocurrencies, bitcoin and ethereum, saw positive movement, with bitcoin rising by 1.2% and ethereum recording gains of nearly 4%.<\/p>\n<h3>A Victory for Alt-Coins and the Industry<\/h3>\n<p>Judge Analisa Torres&#8217; ruling is not only a win for Ripple but also for other alternative coins that have argued against being classified as securities. This decision provides much-needed clarity on the distinction between securities and commodities, potentially sparing these assets from further SEC regulation.<\/p>\n<p>Industry experts are optimistic about the implications of this ruling. Chris Martin, head of research at Amberda, stated, &#8220;The judgments today are a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japan-court-ban-on-same-sex-marriage-is-unconstitutional\/\" title=\"Japan Court: Ban On Same-Sex Marriage Is \u2018Unconstitutional\u2019\">huge step forward<\/a> for the industry. By judging that XRP is not a security, we&#8217;re starting to get clarity on what constitutes a security and what constitutes a commodity. The SEC will have to revise their tactics on several <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/liberal-groups-break-with-whitehouse-over-controversial-donor-disclosure-rule\/\" title=\"Liberal Groups Break With Whitehouse Over Controversial Donor Disclosure Rule\">ongoing cases<\/a>, and I expect that this judgment will implicate several other tokens as non-securities.&#8221;<\/p>\n<p>While the impact on exchanges involved in ongoing SEC cases remains uncertain, the market has responded positively to the ruling. Prices have surged, reflecting a bullish sentiment among investors.<\/p>\n<p>After a challenging year in 2022, where the cryptocurrency market experienced a deep crypto winter, 2023 has proven to be a promising year for digital assets.<\/p>\n<p>At the beginning of this year, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-rules-favorably-in-ripple-case-in-major-boon-for-crypto-industry\/\" title=\"Judge rules in favor of Ripple, a major win for crypto industry.\">bitcoin faced regulatory uncertainty<\/a> and the collapse of crypto giant FTX, causing its value to plummet below $16,000 per coin. However, the tides have turned, and bitcoin is now trading at around $30,900, reaching levels last seen in June 2022. This represents an impressive growth of nearly 86% in just over six months.<\/p>\n<p>Overall, the ruling in favor of Ripple&#8217;s token marks a significant milestone for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/irs-asks-congress-for-authority-to-collect-cryptocurrency-information\/\" title=\"IRS Asks Congress For Authority To Collect Cryptocurrency Information\">cryptocurrency industry<\/a>, providing much-needed clarity and fueling optimism for the future.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A federal judge&#8217;s ruling on Thursday stated that Ripple&#8217;s cryptocurrency token may not be considered a security, marking a significant milestone for digital assets like Ripple. The ruling emerged from a lawsuit filed by the Securities and Exchange Commission in 2020, accusing Ripple of unlawfully selling the token without proper registration.<\/p>\n","protected":false},"author":1,"featured_media":1972048,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1972047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1972047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1972047"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1972047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1972048"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1972047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1972047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1972047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}