Ripple Wins Landmark Legal Battle: XRP Is Officially Not a Security
Too Long; Didn't Read
On July 13th, United States District Judge Analisa Torres officially ruled that XRP is not a security. Ripple sold $728.9 million of XRP directly to certain Institutional Buyers in written contracts. Judge Torres determined that these direct sales were made by investors who “would have purchased XRP with the expectation that they would derive profits from Ripple’s efforts”