Ripple CEO Hails Team's Efforts Following Crucial Court Decision

, the first of its kind in the industry, could influence the categorization of other cryptocurrencies, possibly mitigating future regulatory disputes.

This victory, though hard-fought, may well become a turning point in the way cryptocurrencies are viewed and regulated in the country.echoed the sentiments of Ripple's chief legal officer Stuart Alderoty, who criticized SEC Chairman Gary Gensler for allegedly misinterpreting the law and the Howey Test.

The latter is a test created by the Supreme Court for determining whether certain transactions qualify as"investment contracts." Alderoty stated,"The Court's ruling can now be used by others in the agency’s crosshairs. The SEC can no longer tout their record in crypto – which was, up until now, by and large settlements with players that didn’t have the resources or conviction to fight back.”

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US regulatory clarity has begun in court after Ripple win: CFTC commissionerThe United States has taken its first steps towards crypto regulatory clarity, thanks to recently released court opinions, said CFTC Commissioner CarolineDPham. CarolineDPham Pham expressed her eagerness to join regulatory working groups and wished that other U.S. regulators, such as the SEC, would collaborate to create a “comprehensive approach” to crypto regulation.
Source: Cointelegraph - 🏆 562. / 51 Read more »