Ripple Executives and XRP Community Celebrate First Anniversary of Judge Torres’ Summary Judgment Decision

Top Ripple Executives and XRP Community Celebrate First Anniversary of Judge’s Decision in SEC Lawsuit

July 13 holds a special significance for the XRP community as it marks the first anniversary of a landmark legal victory for Ripple against the U.S. Securities and Exchange Commission (SEC). On this day in 2023, Judge Analisa Torres issued a summary judgment declaring that XRP is not a security and certain XRP-related transactions alleged by the SEC were not securities either.

Ripple CEO Brad Garlinghouse and other XRP enthusiasts came together to celebrate this victory and reflect on the impact of the court’s decision. Garlinghouse described July 13 as a “very good day” for Ripple and the industry, emphasizing the company’s conviction to fight against what he called the SEC’s bullying tactics. He criticized the SEC under Gary Gensler’s leadership for its attempts to stifle the crypto industry with lawsuits and intimidation.

Ripple’s Chief Legal Officer, Stuart Alderoty, also weighed in on the significance of Judge Torres’ decision, noting that it established as a matter of law that XRP is not a security. He highlighted the impact of this ruling on other crypto-related lawsuits and expressed frustration with the ongoing token-by-token litigation.

Despite the SEC’s continued efforts to challenge Ripple, both Garlinghouse and Alderoty remain confident in the court’s determination that XRP is not a security. They believe that the SEC’s runway for litigation is running out and that the industry will continue to thrive despite regulatory challenges.

As the XRP community marks this milestone, it serves as a reminder of the resilience and determination of Ripple executives and supporters in the face of regulatory scrutiny.