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SEC vs XRP: Ripple’s Legal Head Breaks Down Appeal Strategy

Author: Content Editor
Ripple Labs is continuing to deal with its legal battle against the U.S. Securities and Exchange Commission (SEC) as the case enters the appeals stage. The lawsuit, which began in 2020, centers around whether Ripple unlawfully sold XRP tokens as unregistered securities. The appeal process is expected to last until 2026. Ripple's Chief Legal Officer, Stuart Alderoty, has outlined the company's next steps in the appeals process, including the submission of Form C by both Ripple and the SEC to lay out their respective strategies. Ripple will focus its cross-appeal on challenging the ruling that institutional sales of XRP were unregistered securities transactions. The appeals process will involve the submission of legal briefs and counterarguments, ultimately leading to a hearing in the U.S. Court of Appeals for the Second Circuit. Ripple is confident in its legal position and hopes to solidify the argument that XRP is not a security. The outcome of the case could set a legal precedent for the regulation of cryptocurrencies in the U.S. Despite the legal battle, Ripple has announced the launch of RLUSD, a stablecoin pegged to the U.S. dollar, indicating its commitment to expanding its operations globally and complying with regulatory requirements.

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