Ripple CEO reminisces on date that will be remembered in XRP and cryptocurrency history
A year ago, on July 13, 2023, a landmark court decision in Securities & Exchange Commission v. Ripple Labs Inc. definitively declared that XRP is not a security. The Ripple CEO reminisces about this day etched forever in XRP and cryptocurrency history: "July 13, 2023 – that day was a very good day - for Ripple and the entire industry. And for me personally, a core memory," Garlinghouse wrote.
Garlinghouse reiterated a statement he had often stated since the beginning of the lawsuit, that Ripple was on the right side of the law and history: "As I said when it started, I knew we were on the right side of the law and that we would be on the right side of history."
The Ripple CEO criticized the SEC's attempt to suppress the cryptocurrency business through "failed lawsuits, misleading rhetoric, slander, and intimidation," stating that the SEC's actions remain wrong, "They were wrong then. And they are wrong now."
A landmark decision for XRP The Court declared categorically on July 13, 2023, that XRP is not a security in and of itself. A number of cryptocurrency exchanges, including Coinbase, Kraken, and Bitstamp, made XRP available for trading on their American platforms shortly after the decision was made, and as a result, XRP's price and volume increased. The following are the key conclusions from the Court's ruling: XRP is not a security in and of itself. Executives' sales of XRP on exchanges and the company's numerous XRP payouts to developers, nonprofit organizations, and staff members were all regarded as non-securities.
