Bitcoin maintained its level above $31,000 on Friday, having first crossed the threshold Thursday following a U.S. court ruling that suggested XRP isn't necessarily a security when sold on exchanges.
“The XRP news highlights the important role of exchanges as accessible trading venues for digital assets, and it enables increased investment into infrastructure for the growing asset class," Enclave Markets CEO David Wells told The Block.
"While there is still plenty of work to be done in Congress, recent court decisions like this one help as we wait for clearer legislative guidance," he said. Konstantin Anissimov, an independent digital asset analyst, told The Block that he"noticed lawyers being a lot less optimistic about this news than everybody else.""In regards to direct sales to institutional investors, the court has confirmed that the law was indeed violated, marking a considerable victory for the SEC. It sets a precedent for legal actions against other cryptocurrencies," he told The Block.
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