Crypto's long battle with SEC comes to a close with Ripple victory

The SEC has dropped its four-year-old lawsuit against Ripple, accusing the company of raising $1.3 billion through the sale of its XRP token without registering it as a security. Ripple is now celebrating its victory as the last major crypto case the SEC has walked away from, after other companies like Coinbase and Kraken saw similar lawsuits dropped or resolved. XRP, created in 2012, saw an 11% jump in value after the announcement, following a federal judge’s ruling that it is “not necessarily a security on its face” in July 2023, undermining the SEC’s case.

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