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Crypto Trading Volumes Spiked as the Market Celebrated a Court Setback for the SEC
Parts of the crypto market saw frenzied trading following a break in the regulatory clouds surrounding the US digital-asset sector. The spike stemmed from a July 13 court decision in the Securities & Exchange Commission’s case against Ripple Labs Inc. The ruling served to dent the SEC’s argument that most tokens are securities that fall under its strict purview. Spot trading volume in XRP, the coin associated with Ripple and which was at the heart of the SEC lawsuit, jumped more than 1,700% to $11.3 billion on July 14 from $614 million a day earlier, according to data from CoinGecko. XRP is one of more than a ... (full story)