Last week, a federal judge ruled that crypto company Ripple Labs did not violate securities laws by selling its token to retail investors. The ruling is seen as a setback for the Securities and Exchange Commission's strategy to regulate cryptocurrencies and as a victory for the crypto community as a whole. WSJ’s Vicky Huang explains.  Further Listening: -SEC Chair Gary Gensler On His Crypto Crackdown  -A Crypto Exchange Crackdown  Further Reading:  -Ripple Ruling Deals a Blow to SEC’s Effort to Regulate Crypto  Learn more about your ad choices. Visit megaphone.fm/adchoices