The US Securities and Exchange Commission (SEC) has filed an appeal in the Ripple lawsuit to overturn a ruling made in 2023. The ruling stated that the secondary sales of Ripple's XRP token did not constitute securities sales. Ripple's chief legal officer called the appeal "disappointing, but not surprising," and stated that it prolongs an embarrassment for the agency. Ripple CEO Brad Garlinghouse criticized the SEC, saying they should have moved on from the case. The news of the appeal caused a 12% decrease in XRP's value.
- Content Editor ( cryptopotato.com )
- 2024-10-03
XRP Price Crashes 12% as SEC Appeals in the Ripple Lawsuit