Ripple ruling seen as setback for efforts to regulate crypto

July 13, 2023 - According to an article in the Wall Street Journal, a U.S. District court sided with Ripple, ruling that sales of its XRP token didn’t violate investor-protection laws. Ripple general counsel Stuart Alderoty said the ruling is a "major victory" for the crypto industry though the court ruled partly for the SEC, finding half of Ripple’s sales constituted an illegal sale of securities. Alderoty maintains the decision has "broader implications for this SEC’s exchange strategy to try to suffocate the crypto economy in the U.S.”

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