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Ripple’s Big Court Win Nonetheless Muddied Waters on Whether XRP Is a Security Deserving Tougher Regulation

It’s true that Hamilton’s ruling does not, in and of itself, challenge Torres’ ruling – though the SEC is likely to appeal its case against Ripple, and could potentially use Hamilton’s ruling as alternative precedent. Hamilton is not the first judge to break with Torres either. Another SDNY judge, Jed Rakoff, explicitly disagreed with Torres’ ruling in a separate case, SEC vs. Terraform Labs.

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