A recent update had been issued by the SEC against ripple in US court, As this lawsuit that already been going since December 2020. Finally, this month, the judge’s court ruled that the XRP categories are not securities. For your information, the SEC lawsuit against Ripple is beginning. The SEC accuses the company of mislending to their inventors by selling more than $1 billion worth of XRP without registering them.
What does it news mean?
As a result of this lawsuit, the cryptocurrency industry is facing a heat wave. This has caused major governments around the world to try to make and get Cryptocurrency as a regulated type of asset. This result of the lawsuit making the XRP case a step closer that bring bullishness to the cryptocurrency industry, as the court judge said that “XRP is not a security,” this means that the XRP is not classified as other security assets. Unlike stocks, ETFs, bonds, mutual funds, etc.
This statement notes that the SEC’s motion is denied in part while ruling against the regulator’s security claims with regard to XRP.
As a result, The cryptocurrency market is getting bullish for both short term and long term sentiment. My personal view of this result is that it is one step closer to cryptocurrency adoption becoming global.
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