CandleFocus SEC Advances Appeal Against Ripple in Second Circuit Court: What's Next for the Crypto Industry?
2024-10-11
Author: Content Editor
The U.S. Securities and Exchange Commission (SEC) has filed an appeal with the Second Circuit Court of Appeals in its ongoing legal battle against Ripple Labs. The SEC is seeking to redefine XRP, Ripple's cryptocurrency, as a security under U.S. law. The outcome of the appeal could set a precedent for the regulation of digital assets in the U.S. Both Ripple and the SEC are confident in their positions, with Ripple citing prior court skepticism of the SEC's arguments. Legal experts have differing opinions on the outcome, with some suggesting a favorable outcome for the SEC and others predicting Ripple's success. The case is closely watched and the implications could extend beyond Ripple and XRP, shaping the treatment of digital assets under U.S. securities law.
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