The U.S. Securities and Exchange Commission (SEC) has filed its opening brief in the ongoing legal battle against Ripple, a blockchain-based digital payment network. The SEC seeks to challenge a previous ruling that categorized Ripple's XRP tokens differently for retail and institutional investors. The regulator argues that this ruling contradicts securities laws and the Howey Test. Ripple's chief legal officer, Stuart Alderoty, dismissed the case as "noise" and expects it to be dismissed in the next administration. Ripple's CEO, Brad Garlinghouse, called the SEC's actions insanity. Despite the legal battle, XRP has been performing well in the market, with its value increasing 28.77% in the past seven days.



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