After 933 days of toil in its battle against the SEC, XRP’s progenitor Ripple has finally enjoyed a key win. A federal judge overseeing the case ruled that the XRP token “is not necessarily a security on its face.” Still, as the cagey language suggests, it’s not an outright victory for Ripple. Though federal district judge Analisa Torres said that XRP sales to public buyers didn’t qualify as unregistered securities, sales to institutions did. That’s because those entities were likely expecting a payout on their investment, a key point of the decades-old Howey test, which is used to determine if an asset is a security. Regardless of the details: XRP is absolutely soaring this morning.
Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax.
100 Thieves content creator and gamer Moe also goes by “Yassuo” online after his favorite League of Legends character. Decrypt‘s Kate Irwin asks him about 100 Thieves’ future crypto plans and whether Moe thinks creators like xQc and Pokimane might ever come around to blockchain games.
