In the long-running XRP-SEC case, the judge announced the summary decision in favor of Ripple in the past weeks.
After this decision, there was an increase in Bitcoin and altcoins, especially XRP.
While the XRP decision was welcomed in the crypto industry, Bank of America analysts also evaluated the impact of this decision.
BoF analysts, who stated that it is difficult for now to assess the wider effects of the court decision, drew attention to the necessity of a comprehensive regulatory framework in their report, according to the report of Coindesk.
Stating that a comprehensive regulatory framework is very important for the mainstream adoption of cryptocurrencies and for institutional investors to come to the sector, analysts stated that the XRP decision contributed little to this regulatory framework.
“A US court has ruled against the SEC in the XRP-SEC case.
At this point, the court decided that Ripple's sale of XRP on cryptocurrency exchanges does not constitute a sale of securities.
This decision was welcomed by the cryptocurrency industry. However, this decision has done little to clarify the necessary regulatory framework for the crypto industry.
It seems difficult to determine the wide-ranging consequences of this decision.”
XRP, which went up to $ 0.94, experienced some pullback and is at $ 0.70 at the time of writing.
*Not investment advice.