The US court has drawn a distinction between Ripple Labs’ case and those of Terraform and LBRY. Judge Analisa Torres based her decision on the understanding and expectations of retail investors. The court highlighted that Ripple’s sales of XRP are not synonymous with the Terraform case, as retail investors would not expect XRP sales to be a means to recycle profits back into Ripple and the XRP Ledger. Furthermore, the court noted that Ripple’s promotional materials were targeted towards institutional investors, rather than retail investors. Additionally, the court clarified that the SEC’s reliance on the SEC v. LBRY lawsuit to support its stance against Ripple was misplaced, as the pertinent aspects of the Howey test were not the same. John Deaton, an eminent attorney backing XRP, voiced his approval of the court’s directive, emphasizing that not all digital assets traded on exchanges are securities, particularly in the context of XRP.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	8
People	Analisa Torres, John Deaton, Ashley PROSPER
Companies	SEC, LBRY, Terraform, eToro, Ripple Labs
Currencies	XRP, Bitcoin, Ethereum, US Dollar
Securities	None