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The post <a href="https://cryptosnewss.com/u-s-sec-appeals-decision-in-ripple-xrp-case/" rel="noopener noreferrer nofollow">U.S. SEC Appeals Decision in Ripple XRP Case</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.The U.S. Securities and Exchange Commission (SEC) has filed an appeal in the Ripple Labs lawsuit, despite Ripple&#39;s partial victory regarding XRP sales.The SEC recently submitted a Civil Appeal Pre-Argument Statement, marking another phase in its ongoing legal battle against Ripple Labs. The appeal challenges the court&#39;s decision on Ripple’s programmatic sales of XRP on secondary exchanges, which were previously ruled as not constituting securities sales.The ruling had been a significant win for Ripple, leading to a surge in XRP value and optimism within the crypto community. However, the SEC aims to revisit this decision, potentially bringing setbacks for Ripple and its executives, Brad Garlinghouse and Chris Larsen, whose alleged involvement in illegal securities sales remains contested.<blockquote>&#x1f6a8;NEW: The <a href="https://twitter.com/SECGov?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;SECGov</a> has filed its Form C, detailing issues they plan to seek appeal for in the <a href="https://twitter.com/Ripple?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;Ripple</a> case. Those issues are:&#x1f4cc;<a href="https://twitter.com/Ripple?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;Ripple</a>’s programmatic sales of <a href="https://twitter.com/search?q&#61;%24XRP&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> on digital asset trading platforms&#x1f4cc;<a href="https://twitter.com/bgarlinghouse?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;bgarlinghouse</a> and <a href="https://twitter.com/chrislarsensf?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;chrislarsensf</a> alleged aiding and abetting of those… <a href="https://t.co/EArrDrbkBr" rel="noopener noreferrer nofollow">https://t.co/EArrDrbkBr</a>— Eleanor Terrett (&#64;EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1847046876563980728?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2024</a></blockquote>This lawsuit has become a pivotal moment for the cryptocurrency world, testing the legal boundaries of how digital assets are classified. Ripple has maintained that XRP is not a security, emphasizing its utility as a bridge currency for cross-border payments.The initial court ruling agreed with Ripple&#39;s stance, determining that XRP sold on exchanges did not meet the criteria for securities, as buyers did not expect profit from Ripple’s efforts. The SEC’s latest appeal attempts to reverse this outcome, which may affect not just Ripple, but the entire cryptocurrency industry.The outcome of this appeal could have significant implications for the future of crypto regulation. If the SEC succeeds, it could lead to stricter oversight of digital asset transactions. However, Ripple’s continued defense may set a lasting precedent for how cryptocurrencies are treated legally. As the case progresses, the crypto community waits to see whether this appeal will reshape the landscape or solidify Ripple’s victory.

U.S. SEC Appeals Decision in Ripple XRP Case

Cryptos Newss

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