The Ripple v. SEC lawsuit is approaching its conclusion, with many believing that a ruling may be imminent. As the lawsuit targets one of the agency’s first industry targets, its result could affect the entire crypto market and regulatory landscape. Currently, US Congress has not passed any legislation clarifying how crypto assets should be classified under the law. Lawyers representing over 75,000 XRP holders, including John Deaton, founder of Crypto Law.US, assert that XRP is not a security. A ruling in Ripple’s favor could clarify that the SEC does not have broad authority over the crypto industry, protecting crypto companies from the agency’s future enforcement actions until clarifying legislation is passed in Congress.
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