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The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered ...
XRP has struggled after the Securities and Exchange Commission appealed a U.S. District Court ruling in favor of XRP in a prior lawsuit.
The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No. 20-10832. (Reporting by Jonathan Stempel and Jody Godoy in New York; Editing by Edwina Gibbs) Show ...
The SEC vs. Ripple Labs lawsuit took a somewhat unexpected turn, breathing new life in the case just before an important deadline.
The defendants agreed to turn over all data involving XRP transactions. [30] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
The XRP Ledger peer-to-peer overlay network is characterized by a small-world network topology, featuring a tightly clustered structure and short paths between nodes. [12] Information systems expert Mary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".
After U.S. District Judge Analisa Torres ruled in a separate court case involving the crypto company Ripple—finding that its crypto token XRP itself was not a security, and that its sale only ...
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