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<p>Bernstein, an asset management company with approximately $600 billion in assets under management, shed light on the rise in the cryptocurrency market in a research note published on July 13. The company shared the reasons behind the surge in <a href="https://en.coin-turk.com/us-institutional-investors-amplify-bitcoin-accumulation-amidst-blackrocks-etf-application/" rel="noopener noreferrer nofollow">Bitcoin</a> and altcoins.</p><h2 id="header-0"><strong>&#34;An Important Milestone for the Crypto Market&#34;</strong></h2><p>In its latest research report, the major asset management company Bernstein stated that the decision of a US regional court regarding <a href="https://en.coin-turk.com/ripple-xrp-back-on-the-radar-of-the-giant-exchange/" rel="noopener noreferrer nofollow">Ripple</a>, which ruled that selling <a href="https://en.coin-turk.com/global-crypto-market-contracts-top-altcoins-grab-investor-attention-amid-turbulence/" rel="noopener noreferrer nofollow">XRP</a> through a cryptocurrency exchange or programmed sales does not violate securities laws and will not result in the classification of XRP as a security, is an important milestone for the cryptocurrency market.</p><p>While reminding that the court had previously ruled that Ripple&#39;s sales of XRP to institutional companies violated securities laws, Bernstein analysts added that the overall decision was still significant as it lifted the securities burden on investors who purchase through cryptocurrency exchanges.</p><p>Under the leadership of Gautam Chhugani, Bernstein analysts emphasized that the decision reduced the securities classification burden on other altcoins sold on cryptocurrency exchanges and provided significant relief for all altcoins sold on secondary platforms.</p><h2 id="header-1"><strong>The Court&#39;s Decision Shows that the Howey Test Does Not Apply to Altcoins</strong></h2><p>Analysts pointed out that the court&#39;s decision revealed the need for a separate cryptocurrency framework in the US and also highlighted that the court&#39;s ruling meant that the Howey test used by the US Securities and Exchange Commission (SEC) to classify altcoins as securities cannot be directly applied to altcoins sold on cryptocurrency exchanges.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/aac12716712e418597baa95bdd4cdbdb.jpeg" /></p><p>The analysts stated, &#34;This weakens the SEC&#39;s dominance that there is no need for separate clarity for cryptocurrencies when the open-endedness of securities law and the contextual interpretation required in every case are considered.&#34;</p>

Important Milestone for the Crypto Market: Ripple's Legal Battle

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