Crypto Future Hangs in Balance as Court Ruling Looms

A New York court is set to rule on whether XRP, the cryptocurrency associated with blockchain firm Ripple, is a security or not. The US Securities and Exchange Commission (SEC) has long argued that most cryptocurrencies are securities, but Ripple maintains that XRP does not meet any of the Howey criteria and that there is no common enterprise among XRP holders. The outcome of the case may establish "persuasive precedent" for future cases, but will not set a binding precedent as it is being held in a district court.