Ripple Labs' recent victory against the US securities regulator is being seen as a significant setback for the regulator's "war on crypto."
However, experts caution that it is not a definitive victory for the entire cryptocurrency industry.
In a groundbreaking ruling on July 13, Judge Torres determined that XRP, the digital asset associated with Ripple Labs, is not a security when sold to the general public.
This decision sparked jubilation among XRP token holders and caused a substantial surge in the token's price. Industry leaders praised the ruling, predicting that it would provide support for crypto exchanges like Coinbase and Binance in their ongoing legal battles.
Luke Martin, the founder of crypto investment firm Venture Coinist, highlighted that a crucial aspect of the SEC's claims against Binance and Coinbase is that they facilitated the sale of unregistered securities on their platforms.
With the SEC losing this argument in the XRP case, Martin believes it will significantly impact the regulator's position and Chairman Gary Gensler.
Pro-XRP lawyer John Deaton expressed a similar view, stating that Coinbase was another beneficiary of the ruling, and alternative cryptocurrencies (altcoins) would likely reap the benefits.
Tyler Winklevoss, CEO of the Gemini cryptocurrency exchange, characterized the ruling as a "decimation" of the SEC's case against Coinbase.
His brother, Cameron Winklevoss, referred to it as a "watershed moment" that would make it challenging for the SEC to assert authority over cryptocurrencies. Source