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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.
Crypto analytics platform Messari says Ripple is working with governments across the globe to explore central bank digital currencies (CBDCs) built atop the XRP Ledger (XRPL) blockchain.
According to Messari, Ripple is collaborating with over a dozen countries on CBDCs that will run on the XRPL blockchain.
The XRP Ledger uses XRP as the native token.
“Ripple is one of the companies leading the development of technologies that leverage the XRPL for institutional and government use cases. The company is focused on utilizing XRP and the XRPL to drive its On-Demand Liquidity service and CBDC initiatives.
The XRPL continues to be at the forefront of CBDC explorations by various governments. The new Ripple CBDC platform is based on the same blockchain technology used by the XRPL. Ripple is working with more than 20 countries on CBDC plans and hopes to leverage the XRPL to realize those visions. Most recently, the Central Bank of Colombia has begun working with [blockchain technology firm] Peersyst and Ripple toward a CBDC.”
By the authority vested in me as President by the Constitution and the laws of the United States of America, including sections 121 and 12304 of title 10, United States Code, I hereby determine that it is necessary to augment the active Armed Forces of the United States for the effective conduct of Operation Atlantic Resolve in and around the United States European Command’s area of responsibility. In furtherance of this operation, under the stated authority, I hereby authorize the Secretary of Defense, and the Secretary of Homeland Security with respect to the Coast Guard when it is not operating as a service in the Navy, under their respective jurisdictions, to order to active duty any units, and any individual members not assigned to a unit organized to serve as a unit of the Selected Reserve, or any member in the Individual Ready Reserve mobilization category and designated as essential under regulations prescribed by the Secretary concerned, not to exceed 3,000 total members at any one time, of whom not more than 450 may be members of the Individual Ready Reserve, as they deem necessary, and to terminate the service of those units and members ordered to active duty.
This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
JOSEPH R. BIDEN JR.
THE WHITE HOUSE,
July 13, 2023.
Operation Atlantic Resolve, though not a "named" operation, refers to military activities in response to Russian operations in Ukraine, mainly the War in Donbass. It was funded under the European Deterrence Initiative. In the wake of Russia's 2014 intervention in Ukraine, the U.S. and the U.K. took several immediate steps to enhance the deterrence posture along the eastern flank of the North Atlantic Treaty Organization (NATO), including augmenting the air, ground and naval presence in the region, and enhancing previously scheduled exercises.[1]
It produced "an index of several hundred individuals" who "may have accessed" the area where the drug was found.
On Wednesday, the Secret Service received the forensic evidence back from the FBI. This showed it did not have enough DNA evidence for comparison, and had not developed "latent fingerprints".
"Therefore, the Secret Service is not able to compare evidence against the known pool of individuals," it said in a statement.
originally posted by: carewemust
It's too bad Q has taken a hike.