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Cryptocurrency

Ripple’s legal chief says only bitcoin and XRP enjoy ‘explicit regulatory clarity’

‘The judge’s decision shows that the SEC does not have unbounded jurisdiction over crypto’

Ripple’s chief legal officer Stuart Alderoty said the court’s finding that XRP is not in and of itself a security, stands and is not the subject of trial
Ripple’s chief legal officer Stuart Alderoty said the court’s finding that XRP is not in and of itself a security, stands and is not the subject of trial

When the US markets watchdog cornered Ripple in a case last year over the sale of unregistered securities via XRP, it triggered a $15bn wipeout for holders of the cryptocurrency.

But a later ruling on 13 July vindicated the firm and its digital asset — US district judge Analisa Torres determined that Ripple didn’t violate federal securities law by selling XRP on public exchanges.

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