How the crypto community reacted to Ripple's victory over the SEC
Date: 2023-07-14 Author: Karina Ziganova Categories: BUSINESS, IN WORLD
On July 13, 2023, a significant event for the crypto community took place — the popular Californian crypto project Ripple defeated the US Securities and Exchange Commission (SEC) in court. Recall that the regulator accused the company of illegally issuing securities in the form of XRP tokens. The trial has been going on since December 2020. We tell you how the crypto market reacted to Ripple's victory over the SEC
Against the backdrop of the announcement of the court's decision, the crypto market went up. In the top 100 most capitalized cryptocurrencies, XRP is expected to have the best result. The growth of the Ripple coin at the moment reached almost 100%. As of the time of writing, the cryptocurrency has somewhat corrected from its highs.
However, there were also those who were not satisfied with the growth results, as they could not compensate for all the losses that fell on XRP during the period of regulatory pressure.
Members of the crypto community, for the most part, reacted positively to the news. The project team was quick to congratulate many popular crypto projects and famous representatives of the crypto industry, including the Kraken crypto exchange, Tron founder Justin Sun, and Binance CEO Changpeng Zhao.
Many believe that Ripple's victory will help issuers of other coins prove that their tokens are also not a security. Recall that in June 2023, the SEC's "black list" of cryptocurrencies grew to 68 positions. The opinion that now all disgraced coins are safe was joined by the founder of the Gemini crypto exchange, Cameron Winklevoss. In his opinion, Ripple's victory in court proved that the SEC does not have enough rights to put pressure on the crypto market.
Ripple representatives, in turn, believe that the victory over the Commission is an important step towards the formation of a transparent regulatory environment for the digital asset market in the United States.
There were also those who were not touched by Ripple's victory over the SEC
"Regardless of whether XRP is a security or not, this coin is still rubbish. Only bitcoin is real," wrote analyst sunnydecree in his microblog.
