Golden Finance reported that Ripple recently achieved an unquestionable victory from a financial perspective in a collective securities lawsuit, as the judge dismissed most of the lawsuit. However, the judge also blurred the vision on a bigger issue, suggesting that Ripple’s XRP may be a security, thus requiring stricter regulation, which is contrary to the highly anticipated ruling last year.
The rulings of the two judges are contradictory - one claims that XRP is a security, while the other believes that it is not essentially - a sign of a larger issue: the lack of legal and regulatory clarity in the US cryptocurrency industry. Unless Congress or a higher court makes clear rules, projects like Ripple may become even more chaotic.
Moish Peltz, a partner at the New York law firm Falcon, Rappaport, and Berkman, explained, ‘At least with respect to this particular claim, the question of whether XRP is a security has not been resolved.’
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