Ripple CEO Says XRP Has Legal Clarity After CLARITY Act Vote

Ripple CEO Brad Garlinghouse said XRP has legal clarity because of a federal court ruling, even as a failed Senate procedural vote left broader U.S. crypto market rules unresolved. Garlinghouse made the remarks at an Oct. 14 closing-bell ceremony for Evernorth Holdings Inc. Evernorth shares began trading on Nasdaq on Oct. 12. The July 2023 ruling found that XRP is not inherently an investment contract. In the SEC case, the court found Ripple’s programmatic exchange sales examined in the case were not offers or sales of investment contracts. It treated Ripple’s direct sales to institutional investors differently, finding those transactions were unregistered securities sales. The decision distinguished the token itself from the circumstances of each sale. The Sept. 15 Senate vote rejected a procedural motion to advance the CLARITY Act.

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