July 13 (Reuters) – Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data.
The ruling by U.S. District Judge Analisa Torres was the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission — though it did also give the SEC a partial victory. READ MORE