The New York State Bar Association (NYSBA) has commented on the recent SEC v. Ripple ruling on XRP, stating that it has potential implications for the broader crypto industry. The NYSBA interprets the ruling as suggesting that XRP is not inherently a security and sees it as a victory for Ripple. The association also expresses concerns that the SEC has abandoned security classification as a fact-specific test. The NYSBA believes that the decision could end the SEC's token-as-a-security claim and weaken their characterization of the crypto market as the "Wild West." Judge Torres, who presided over the case, has issued the final judgment, resulting in a partial victory for both parties. There is speculation that both parties may appeal the verdict.



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