Lawyers that are closely monitoring the Ripple vs SEC lawsuit have critically analyzed Judge Analisa Torres’s comments to determine if XRP will be classified as an unregistered security or not.
With the summary judgment expected to take place by the end of this year, according to Ripple CEO Brad Garlinghouse, the global cryptocurrency community is eagerly awaiting the final verdict, which will affect the entire industry and other cryptocurrency exchanges and firms as well.
The Ripple vs XRP lawsuit has recently intensified following the FTX and Alameda Research collapse, which opened a new wave of regulatory scrutiny. Furthermore, the SEC has made several hits, including with LBRY and Kraken exchange.
USA’s Crypto Administration
The Biden administration has passed a new Bitcoin and crypto mining tax law that requires miners to pay 30 percent.
Source: https://coinpedia.org/ripple/xrp-security-or-not-ripple-vs-sec-verdict-nears-as-judge-torres-may-have-already-decided/