The court’s ruling in partial favor of Ripple’s claims is a landmark victory for the cryptocurrency industry, declaring what constitutes securities and what does not. To clarify, JPMorgan Chase said in a research note Wednesday.
“Large pools of capital have withheld entry into an industry of opaque rules, while the associated heavy impact has slowed innovation, adoption, and the appreciation of the crypto ecosystem as a whole, we believe. , the delays are getting worse as regulatory action heats up this year,” the analyst wrote.
“This ruling is undoubtedly a landmark victory for the industry. The result supports what many people in the
A 13-day ruling ruled that Ripple’s XRP (XRP) should not be considered a security when sold through an exchange or program. Markets rose on the news, confirming the ruling’s importance to the industry.
JP Morgan also said that while Ripple’s victory is certainly positive, the SEC has appealed the ruling and is likely to pursue similar lawsuits in the future, so it’s not the end of the industry’s regulatory battles. pointed out.
“We believe the industry has established a strong foundation that can influence the pace of ongoing lawsuits and further lawsuits. I don’t think so, but I think it will only be reduced.”
Analysts continued that there are still many unresolved legal issues for the industry to reach its full potential. That’s why it’s important to watch the tone and behavior of lawmakers and regulators in Washington, D.C., he said.
｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Original: Ripple’s XRP Ruling a ‘Milestone Win’ for Crypto Industry, Says JP Morgan