Regulatory · July 13, 2023
Judge Torres rules XRP programmatic sales are not securities in SEC v. Ripple
Price at event
$31,476
Today
$73,594
Since then
×2.3
On July 13, 2023, Judge Analisa Torres of the SDNY issued a split summary-judgment ruling: Ripple's institutional XRP sales to sophisticated buyers were unregistered securities, but its "programmatic" sales on exchanges to the retail public were not. XRP jumped roughly 28% on the news, and the crypto industry seized on the partial win as proof the SEC could lose, conveniently glossing over the half it had actually won.
⸺ Sources ⸺