US SEC disappointed with defeat over Ripple’s XRP case

The head of the US securities regulator said the agency was “disappointed” with a judge’s recent ruling that Ripple Labs Inc did not violate federal securities laws in what could be a major blow to its efforts to rein in the cryptocurrency sector.

US Securities and Exchange Commission (SEC) chair Gary Gensler said his agency was still assessing the court’s decision but was pleased with a portion of the ruling in which the judge held that Ripple should not have sold its XRP tokens directly to sophisticated investors.