Best Crypto to Buy Now October 20 – Stacks, eCash, Bitcoin Cash
The SEC made a surprising decision on Thursday to pull back on its legal action against Ripple, affecting both CEO Brad Garlinghouse and co-founder Chris Larsen. This marks the third win in a row for Ripple in its legal battles.
This news coincided with a more than 7% rise in the price of XRP, the company’s associated cryptocurrency, during Friday's early trading hours.
Considering the macroeconomic impact of the SEC's Ripple lawsuit reversal, what is the best crypto to buy now?
The ruling from Judge Analisa Torres earlier this year set the stage for the SEC's latest move.
She had previously decided that XRP sales didn't qualify as investment contracts, a point in Ripple's favor. While Ripple celebrates its wins, it continues to call for regulatory definitions that could guide the larger crypto industry in the United States.
Ripple's leaders have not been shy about sharing their views. Chris Larsen, Executive Chairman and co-founder, took the opportunity to call for increased oversight of the SEC’s past conduct, highlighting concerns about how regulatory actions affect innovation in the cryptocurrency industry.
Stuart Alderoty, the Chief Legal Officer at Ripple, referred to the SEC’s decision as a capitulation, bringing up an earlier July 13 ruling that clarified XRP’s status.
Brad Garlinghouse, the CEO, criticized the SEC for its lack of consumer protection. He also questioned the financial and resource cost of the ongoing legal battle with the regulatory agency.
Ripple’s series of legal successes could set an example for other cryptocurrencies facing regulatory scrutiny, like Cardano and Solana.
These cases have heightened discussions among crypto stakeholders about what regulatory clarity could look like, including the
Read more on cryptonews.com
