<p>In the unpredictable landscape of crypto, each legal victory can quickly transform into a mere respite before the next battle. This is exactly what is unfolding for Ripple, the company that has long been at the center of attention for its fierce struggle against the SEC, the American financial regulator. While Judge Analisa Torres’ recent decision seemed to mark a decisive turning point in Ripple’s favor, murmurs of an imminent SEC appeal remind the entire industry that legal stability remains elusive. This hard-won victory could be just a step in a war that redefines not only Ripple’s future but also that of the entire cryptocurrency sector.</p>
<h2 id="h-une-victoire-juridique-nuancee-pour-ripple">A nuanced legal victory for Ripple</h2>
<p>Judge Analisa Torres’ decision, made in Ripple’s favor, was hailed as a major breakthrough in the long legal battle between the company and the SEC. <a href="https://www.cointribune.com/en/crypto-ripple-sentenced-to-pay-125-million-end-of-the-trial-against-the-sec/" rel="noopener noreferrer nofollow">Imposing a $125 million fine on Ripple</a>, well below the $2 billion initially demanded by the regulatory agency, the court recognized the importance of Ripple’s arguments while sanctioning some of its practices. This victory, however, is far from absolute. While the judge ruled that secondary sales of XRP did not constitute securities<a href="https://fortune.com/crypto/2024/08/08/ripple-sec-crypto-xrp-appeal-court-decision-win/" target="_blank" rel="noopener noreferrer nofollow">, he nevertheless highlighted the severity of the violations committed during direct sales to institutional investors.</a> This nuance casts a shadow over Ripple’s triumph, suggesting that the path to true regulatory clarity is still fraught with obstacles.</p>
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<p>Beyond the satisfaction expressed by Ripple and its supporters, this decision marks a turning point for the crypto industry. By acknowledging Ripple’s partial responsibility while sparing secondary sales, Judge Torres rekindled the debate on the nature of digital assets and also provided the SEC with ammunition to consider new actions. The consequences of this decision will be felt far beyond this case, as they may influence other ongoing proceedings against major players in the crypto ecosystem.</p>
<h2 id="the-shadow-of-an-appeal">The shadow of an appeal</h2>
<p>Far from being content with the verdict, the SEC has hinted that it might appeal Judge Torres’ decision, particularly on the crucial issue of secondary XRP sales. Although the commission has already failed to obtain an immediate review after the July 2023 ruling, the possibility of an appeal remains open, fueled by recent contradictory decisions from other federal courts in similar cases. This appeal, if it materializes, could not only challenge Ripple’s victory but also prolong a legal uncertainty that paralyzes part of the cryptocurrency market. For observers, the outcome of this appeal could redefine the boundaries of the American market for years to come, notably by clarifying, or complicating, the legal status of cryptocurrencies.</p>
<p>The timing of this potential appeal is also important. The judicial process, which could stretch into 2025 or beyond, leaves the door open for legislative interventions. Indeed, as the crypto industry continues to wait for clear regulation, Congress might decide to address these issues before the courts do. This prolonged uncertainty, combined with the possibility of an appeal, keeps Ripple and its peers under constant pressure, preventing any true stability in the industry.</p>
<p>The fate of Ripple, and by extension many other crypto companies, could be decided in the coming months. In the meantime, its native crypto, XRP, <a href="https://www.cointribune.com/en/crypto-markets/xrp-xrp-en/" target="_blank" rel="noopener noreferrer nofollow">is enjoying the ride and soaring to new heights!</a></p>

Crypto: Ripple has won a battle, but the war against the SEC is far from over

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