Bitcoin
was gaining Friday, but smaller cryptocurrencies stole the show after a federal judge delivered token issuer Ripple a partial win in a case against the Securities and Exchange Commission with broad implications for crypto.
A federal judge ruled Thursday that Ripple’s XRP token didn’t, in and of itself, meet the definition of a security, as the SEC has alleged. The ruling is complex—the judge ruled, for instance, that Ripple tokens sold to institutional buyers pursuant to contracts did meet the securities test—but is being broadly cheered by the digital asset industry.
Read the full article here
