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The saga of Ripple Labs, the XRP token, and whether the sale of its crypto token constituted a securities law violation in the U.S. advanced today. In a ruling from the U.S. District Court of the Southern District of New York, Judge Analisa Torres gave a nuanced view on the matter. In summary, after examining several different sales methods of the XRP token over time, and applying the Howey Test to each, the district judge approved the SEC’s motion for summary judgment with regard to the institutional sale by Ripple of the XRP token.

(Bloomberg) -- Cryptocurrencies rallied as digital-asset advocates touted a ruling from a federal judge in the US Securities and Exchange Commission’s lawsuit against Ripple Labs Inc. as a victory for the industry when it comes down to what is classified as a security. Most Read from BloombergEx-Celsius CEO Alex Mashinsky Charged With Crypto FraudDeSantis Says No Thanks to $377 Million in US Energy FundsFund Titans Are Betting on Everything Gaining Against the DollarSingapore Minister Faces Most

(Bloomberg) -- Gary Gensler’s Securities and Exchange Commission is filling the crypto regulatory void, and the industry and its backers on Capitol Hill have so far been unable to check him. Most Read from BloombergTurkey Agrees to Back Sweden’s NATO Bid in Boost to AllianceErdogan Just Doomed Turkey's EU MembershipMove Over Dubai. This Tiny Emirate Wants to Be the Next Haven for BillionairesPowell Haunted by Repo Crisis as Fed Aims to Cut Balance SheetPutin Met Wagner’s Prigozhin After Revolt T

The Securities and Exchange Commission (SEC) has deemed recent filings for a spot Bitcoin exchange-traded fund (ETF) in the US as inadequate, according to the WSJ.