The post XRP News: SEC Appeal Unlikely to Affect XRP’s Legal Status, Says Ripple’s Top Attorney appeared on BitcoinEthereumNews.com.

Ripple’s top lawyer, Stuart Alderoty, stated that XRP’s non-security status will not change, even if the SEC appeals the recent court ruling. Judge Analisa Torres ruled that secondary sales of XRP are not securities, which has set an important precedent in the crypto industry. Ripple’s top legal counsel, Stuart Alderoty, has made it clear that XRP’s classification as a non-security will remain intact, even if the U.S. Securities and Exchange Commission (SEC) decides to appeal the recent court ruling. This statement comes after Judge Analisa Torres ruled that secondary sales of XRP are not securities, a decision that has set a significant precedent in the crypto industry. What if the SEC appeals the @ripple case? @s_alderoty @JWVerret pic.twitter.com/xoaAAewjcy — Digital Asset Investor (@digitalassetbuy) August 15, 2024 SEC’s Potential Appeal In a recent conversation with securities law professor J. W. Verret, Alderoty raised the possibility of the SEC seeking a review of the decision. He said that he would not be shocked if the regulatory body decided to contest the judgment. But he stressed that XRP is legal tender and its legal status will not be affected by any appeal.  “That is the law of the land, and that does not change even if the SEC appeals. ” Alderoty said. With the ruling by Judge Torres, Ripple, and the crypto world have gained some guidance on the difference between primary sales, which were considered securities, and secondary sales, which were not. This differentiation is quite significant for the legal framework of digital assets in the United States.  Ripple has been in a legal tussle with the SEC for quite some time now, with the latter accusing Ripple of conducting unregistered securities sales through the sale of XRP. The recent judgment has been seen as a partial victory for Ripple, particularly in…

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Filed under: News - @ August 19, 2024 10:24 am