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Ripple case closure lets SEC refocus on building crypto guidelines, says ‘Crypto Mom’ Hester Peirce
The recent conclusion of the long-standing Ripple vs. Securities and Exchange Commission (SEC) case paves the way for regulators to shift their focus towards developing clearer crypto guidelines, according to SEC Commissioner Hester Peirce.
Peirce, known in the industry as “Crypto Mom” due to her progressive stance on digital assets, emphasized the significance of redirecting efforts from litigation to proactive regulatory initiatives. With the appeals having been dismissed by both parties, the judgement issued by US District Judge Analisa Torres in August 2023 stands as the final legal decision.
The ruling determined that XRP sales to retail investors on secondary markets did not constitute securities transactions, whereas XRP sales to institutional investors violated securities laws, resulting in Ripple being fined $125 million.
Source: cryptobriefing.com
