United

Circuit

Wecan Group

<p>The crypto giant Ripple intensifies its legal battle against the SEC by filing an appeal that could redefine the regulation of digital assets in the United States. This new phase of the conflict comes as the company challenges the classification of some of its XRP sales as unregistered securities.</p>
<h2 id="h-un-appel-crucial-pour-l-avenir-de-la-crypto">A crucial appeal for the future of crypto</h2>
<p>Ripple Labs officially filed its incident appeal before the U.S. Court of Appeals for the Second Circuit on Thursday, October 24, 2024. This action follows the SEC’s appeal filed a week earlier, challenging the historic 2023 decision that partially favored <a href="https://www.cointribune.com/quest-ce-que-ripple-xrp/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Stuart Alderoty, Ripple’s General Counsel, expresses his confidence on platform X: “<em>The Court of Appeals is reviewing the existing case, and we have an excellent case</em>.” He <a href="https://decrypt.co/288250/ripple-sec-continue-legal-sparring-as-appeals-target-xrp-sales-rulings" target="_blank" rel="noopener noreferrer nofollow">also emphasizes</a> that this phase will be distinguished from previous ones by the absence of new evidence, promising a more direct procedure.</p>
<p>The company notably contests the qualification of its <a href="https://www.cointribune.com/en/crypto-markets/xrp-xrp-en/" target="_blank" rel="noopener noreferrer nofollow">institutional XRP sales</a> as unregistered securities offerings, a decision that cost it a fine of $125 million.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://www.bitmart.com/register-referral/en?r=VanRSD" target="_blank" rel="noopener noreferrer nofollow">Your 1st cryptos with BitMart</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-les-enjeux-majeurs-de-l-appel">The major stakes of the appeal</h2>
<p>At the heart of this new legal battle are four critical points that Ripple intends to defend. The company questions the court’s interpretation regarding the definition of an “investment contract” under the Securities Act of 1933.</p>
<p>While this litigation highlights the regulatory challenges facing the sector, some innovative companies like <a href="https://www.cointribune.com/wecan-tout-ce-quil-faut-savoir-sur-le-groupe/" target="_blank" rel="noopener noreferrer nofollow">Wecan Group</a> are already developing concrete solutions. This Swiss regtech, which counts among its clients some of the most prestigious global private banks, offers blockchain tools that enable financial institutions to effectively manage their regulatory compliance and secure their data.</p>
<p>The SEC, for its part, maintains its position on XRP’s programmed sales and employee distributions, considering that they violate securities regulations. Notably, the regulator has not disputed the decision that XRP itself is not a security, leaving this <a href="https://www.cointribune.com/ripple-vs-sec-le-regulateur-crypto-savoue-vaincu/" target="_blank" rel="noopener noreferrer nofollow">significant victory to Ripple</a>.</p>
<p>This appeal process, which is expected to continue until 2025, could set a crucial precedent for the entire <a href="https://www.cointribune.com/en/xrp-facing-uncertainty-whales-and-the-ripple-sec-trial-weigh-on-the-market/" target="_blank" rel="noopener noreferrer nofollow">crypto sector</a> in the United States, redefining the contours of digital asset regulation.</p>

Ripple vs SEC: The XRP battle continues

Table of Contents

Cointribune EN

Other articles published on Oct 26, 2024

Bitcoin hashrate hits historic 741 EH/s milestone, pushing closer to the zettahash era

Ripple Submits SEC Appeal Over Institutional Sales

Federal Prosecutors Offer Plea Deal to Eric Council Jr. for SEC Account Hack

This Under-$0.06 Altcoin Could 30x in 6 Months, Leaving Solana in the Dust

Taylor Mathis Price Prediction: TAYLOR Plunges 40% Amid Controversy As Flockerz Blasts Past $1 Mi...

Perusahaan Kimia Tiongkok Didakwa, Penggunaan Kripto dalam Transaksi Ilegal Kembali Disorot

Join our free newsletter for daily crypto updates!