Swathi Kashettar
Ripple Labs faced a class action lawsuit alleging that they sold XRP without the necessary legal registrations
Court's Decision: A court has ruled that XRP is not a security in terms of programmatic sales on digital asset exchanges, but it remains a security when sold to institutional investors
Following the court's decision, there was a positive response from the crypto industry, with some exchanges relisting XRP
The SEC's case against Ripple, which began in 2020, claimed that XRP was an unregistered security, requiring additional regulation
Despite the partial win, the final decision on whether XRP is a security is still pending, which will have significant implications for Ripple and the broader cryptocurrency market