XRP rallied about 5% following the decision.
A federal judge has rejected the U.S. Securities and Exchange Commission’s bid to appeal its ground-shaking loss against Ripple, the crypto company associated with the XRP token.
The decision isn’t a complete loss for the SEC, though. The judge set an April 2024 trial date for other issues that still need resolution. The agency may still try to appeal the overall case after. investors directly, it had not done so by making XRP available to retail customers through programmatic sales to exchanges. That decision cast doubt on how strongly securities regulators would be able to police crypto.
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