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Ripple's Case Conclusion: The Role of Token Holders in the Victory over SEC

Ripple's Case Conclusion: The Role of Token Holders in the Victory over SEC

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by Giorgi Kostiuk

2 days ago

The lawsuit between Ripple and the SEC, which began in 2020, is coming to a close. Token holders of XRP played a crucial role in this outcome.

Outcome of the Ripple and SEC Lawsuit

In August 2023, Judge Analisa Torres ruled that only some transactions involving XRP could be considered securities. The agreement between Ripple and the SEC to drop their appeals marked the end of a long legal battle.

Role of Token Holders in the Case

Crypto lawyer John Deaton, who represented the interests of token holders, remarked on the significance of their involvement: 'No credible person can argue the XRP Army didn’t make a difference.'

We have conclusive evidence that we made a difference.John Deaton

Impact of Community Opinion on Court's Decision

Ripple's leadership has openly credited token supporters for shaping the case's outcome. Ripple's Vice President Deborah McCrimmon noted that the community's efforts were 'invaluable' for the fair notice defense.

The Ripple vs. SEC case illustrates how community engagement can significantly influence the outcomes of legal decisions in the cryptocurrency sector.

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