CandleFocus Ripple Fights Back On XRP Sales Ruling Amid SEC Appeal Drama
2024-10-25
Author: Content Editor
Ripple Labs has filed a cross-appeal in the U.S. Court of Appeals as part of its legal battle with the SEC. The appeal seeks to reverse parts of a ruling that declared certain XRP token sales as securities, resulting in a $125 million fine. The appeal challenges the district court’s interpretation of the 1933 Securities Act and argues that XRP sales do not meet the criteria for securities. Ripple also criticizes the SEC’s approach and calls for clearer regulatory guidance. If successful, Ripple's fair notice defense could reduce the SEC's enforcement power and lead to clearer guidelines for the cryptocurrency industry. However, the SEC is also appealing the ruling and seeking to extend its regulatory oversight. XRP continues to gain interest in new markets, indicating its legitimacy and acceptance within the crypto space.
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