Federal Judge Analisa Torres issued a major ruling on July 13, 2023. Her decision in the case brought by the SEC against Ripple Labs established an important precedent: XRP does not qualify as a security under the jurisdiction of the Southern District of New York.

This ruling carries significant weight for the cryptocurrency industry. Judge Analisa Torres's determination recognizes the particular nature of the XRP token, distinguishing it from the regulatory framework for securities. This judicial resolution is based on a thorough analysis of federal law applicable to digital assets.