by Tyler Durden
Thursday, Jul 13, 2023 – 11:13 AM
Ripple Labs scored a victory in the United States district court in the southern New York district today as judge Analisa Torres ruled in favor of the company in a case brought forth by the SEC dating back to 2020.
According to documents filed on July 13, Judge Torres has granted summary judgment in favor of Ripple Labs with regard to whether Ripple (XRP) token is or is not a security.
The judge ruled that the XRP token “is not necessarily a security on its face” – except when it was sold to raise funds from institutions.
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