WEB Ripple Hails Major Win Against the SEC

But Looming Appeal Means Celebration May Be Premature

WEB Ripple is hailing a new major win against the SEC, but a looming appeal means the celebration may be premature. The SEC had asked for a $2 billion penalty, but the court ruled that Ripple only had to pay $200,000.

The case moved on to a jury trial to settle how Ripple should be treated in relation to professional investors. The SEC argued that Ripple should be treated as a security, which would have meant that it would have had to register with the SEC and comply with all of the SEC's regulations.

Ripple argued that XRP should be treated as a currency, which would have meant that it would not have had to register with the SEC. The jury ultimately sided with Ripple, and the court ruled that XRP is not a security.

Ripple is respecting the court's decision and plans to pay the penalty using its healthy balance sheet. The company said in a statement that the court's decision shows that the SEC "overreached" in its case against Ripple.

Conclusion

The SEC is likely to appeal the court's decision, which means that the legal battle between Ripple and the SEC is far from over. However, Ripple's victory is a major win for the cryptocurrency industry, and it could have a significant impact on the way that the SEC regulates cryptocurrencies in the future.