By Jody Godoy. July 13, 2023. (Reuters).
Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, delivering a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
XRP was up 25% after the ruling, according to Refinitiv Eikon data.
But the ruling was also a partial win for the U.S. Securities and Exchange Commission, which has brought scores of cases against crypto developers, although Ripple Labs is by the far the largest to be decided by a judge. U.S. District Judge Analisa Torres ruled that Ripple violated federal securities law by selling the cryptocurrency XRP directly to sophisticated investors.
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By Bary Rahma. June 9, 2023. (Be In Crypto)
Analisa Torres: The Judge Deciding Crypto’s Fate
From humble beginnings in the law offices of New York City to the high-stakes courtroom of the US District Court, Judge Analisa Torres has built an illustrious legal career defined by rigor, integrity, and an unerring commitment to justice.
Born into a family deeply rooted in the justice system, Torres was no stranger to the inner workings of US law. Her father, Frank Torres, served as a New York Supreme Court justice, while her grandfather, Felipe N. Torres, was a Family Court judge.
Torres’ own journey in law began in earnest with her education at Harvard College and Columbia Law School. After graduation, she served as a real estate associate at various law firms in New York City. Her tenure as a judge began with the New York City Criminal Court. She then served as an acting justice of the New York Supreme Court in the Bronx.
The pinnacle of her career came in 2013 when President Barack Obama nominated her as a US District Judge for the Southern District of New York.
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