Impact

<ul class="wp-block-list">
 <li>XRP’s trading volume surged 40% in 24 hours amid Ripple's intensifying legal dispute with the SEC over its classification.</li>  
 <li>Ripple’s case outcome could set a regulatory precedent, potentially leading to stricter requirements for other digital assets.</li>  
 <li>Legal experts are divided, with some advocating that XRP is an asset, while others suggest it might be classified as a security.</li> 
</ul>  
<p>XRP, currently the seventh-largest cryptocurrency by market capitalization, has experienced a notable 40% surge in trading volume within the past 24 hours. This significant increase comes as Ripple’s high-profile legal case with the U.S. Securities and Exchange Commission (SEC) approaches a pivotal phase. The SEC recently announced it would submit its primary brief for appeal by January 15, 2025, potentially impacting XRP’s future status in the cryptocurrency market.</p>  
<p>Consequently, the heightened trading volume suggests that investors and traders are actively positioning themselves ahead of expected developments in the case. The ongoing discussions between Ripple and the SEC have intensified speculation surrounding XRP’s legal classification, with legal experts, social media commentators, and industry analysts weighing in on the case's implications for the broader crypto landscape.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/Belisarius2020/status/1852497046261174485/
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-xrp-s-classification-legal-experts-offer-diverging-views"><strong>XRP's Classification: Legal Experts Offer Diverging Views</strong></h2>  
<p>Notably, the debate centers around whether XRP should be classified as a security under U.S. law. Prominent legal analysts, such as lawyer Bill Morgan, argue that XRP should not be considered an investment contract, thus exempting it from the SEC’s regulatory purview.</p>  
<p>Additionally, Morgan contends that Judge Torres’s previous ruling correctly distinguished XRP as an asset rather than a security. He believes this distinction is essential for understanding XRP’s role in the market.</p>  
<p>However, another perspective comes from legal commentator Joe Sho, who argues that the Appeals Court could interpret XRP differently. Sho suggests that the Court might classify XRP as a security, especially given recent rulings that have treated similar digital assets as securities in certain contexts. This possibility raises questions about how future regulatory interpretations could shape XRP's legal standing.</p>  
<h2 class="wp-block-heading" id="h-the-potential-impact-on-crypto-regulations"><strong>The Potential Impact on Crypto Regulations</strong></h2>  
<p>Furthermore, the outcome of Ripple’s case with the SEC is expected to have far-reaching effects on the crypto industry. If XRP is ultimately classified as a security, the decision could prompt stricter regulatory requirements for other digital assets, which may alter how these assets are issued, traded, and held in the market.</p>  
<p>Some commentators, including Morgan, argue that the Appeals Court should adopt an "embodiment theory," which would interpret XRP based on how it is used in transactions rather than its inherent nature. This interpretation could provide clarity for future cases involving digital assets, setting guidelines that separate assets from transaction contexts.&nbsp;</p>  
<p>Meanwhile, XRP’s <a href="https://cryptonewsland.com/xrp-rises-with-a-270-volume-rise-and-stabilizes-at-0-62/" target="_blank" rel="noopener noreferrer nofollow">rising</a> trading volume reflects investor interest and perhaps a broader recognition of the case’s importance to the cryptocurrency industry.</p> 
<p>The post <a href="https://cryptonewsland.com/bill-morgan-challenges-secs-xrp-claims-in-ripple-appeals-battle/" rel="noopener noreferrer nofollow">Bill Morgan Challenges SEC’s XRP Claims in Ripple Appeals Battle</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bill Morgan Challenges SEC’s XRP Claims in Ripple Appeals Battle

Table of Contents

Crypto News Land

Other articles published on Nov 2, 2024

21Shares Eyes Spot XRP ETF Amid Regulatory Uncertainty

This Undervalued Solana Competitor Could 20x by 2026, According to a Solana Whale

Ripple Price Analysis: is XRP About to Crash Much Lower Than $0.5?

See Bitcoin Mining in Action: Argentina’s Central Bank Hosts Unique Art Exhibit

XRP Predicted to Rally 20,500%, Expert Expects It to Beat Markets In next Bull Cycle

October Rally Led By These Popular Meme Coins, Floki (FLOKI), Popcat (POPCAT) And Cutoshi (CUTO)

Join our free newsletter for daily crypto updates!