A federal judge has rejected the U.S. Securities and Exchange Commission’s (SEC) appeal in the ongoing legal battle between the SEC and Ripple, a cryptocurrency company associated with the XRP token. The judge ruled that the SEC had not met the legal requirements to demonstrate substantial questions of law or significant differences of opinion. This decision is seen as a victory for Ripple and its supporters, leading to a 3% increase in the value of the XRP token. The judge has also set a trial date for April 2024 to address other unresolved issues in the case. The dispute revolves around whether XRP should be classified as a security, with Ripple arguing that it is a digital currency. This case has important implications for the regulatory landscape of cryptocurrencies in the United States.
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