The U.S. Securities and Exchange Commission (SEC) has filed an appeal in its legal battle with Ripple Labs, challenging a ruling from July 2023 that partially dismissed claims against the company. The appeal focuses on whether Ripple's XRP sales to retail investors qualify as unregistered securities transactions. The SEC argues that Ripple's promotional efforts created an expectation of profits, making XRP an investment contract. Ripple's legal team maintains that XRP is a digital currency, not a security. The outcome of the appeal could have implications for the crypto industry, with potential effects on regulatory clarity and the SEC's enforcement authority.



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