The post Ripple’s Ongoing Legal Battle: SEC Appeals Recent Court Ruling, Exploring Future Implications for XRP appeared on BitcoinEthereumNews.com.

The ongoing legal disputes between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs continue to shape the landscape of cryptocurrency regulation. As regulatory scrutiny intensifies, the SEC’s latest appeal aims to assess the foundational legality of XRP in the context of the U.S. securities laws. Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized in a recent statement that the court’s determination that “XRP is not a security” remains unchallenged amidst the ongoing litigation. This article examines the SEC’s recent appeal against Ripple Labs, highlighting the implications for XRP and the future of crypto regulation in the United States. The SEC’s Appeal and Its Implications for Ripple Labs Recently, the SEC escalated its legal confrontation with Ripple Labs by submitting a Civil Appeal Pre-Argument Statement, known as Form C, which seeks a fresh examination of the previous ruling by the U.S. District Court for the Southern District of New York. The appeal particularly targets the actions of Ripple’s CEO, Brad Garlinghouse, and co-founder, Chris Larsen, questioning the court’s decision to grant partial summary judgment in favor of Ripple regarding the sales of XRP on various trading platforms. The SEC is pushing the court to analyze whether these sales constituted unregistered securities and if any aiding or abetting occurred on behalf of Garlinghouse and Larsen. Ripple’s Response and Legal Position In response to the SEC’s recent legal maneuvers, Ripple’s Chief Legal Officer Stuart Alderoty took to social media to reiterate the company’s stance. He clarified that the appeal by the SEC does not contest the pivotal ruling that XRP is not classified as a security, which Alderoty describes as “the law of the land.” This assertion underscores Ripple’s confidence in the court’s previous findings, particularly the distinction made by Judge Analisa Torres between programmatic sales and those to institutional counterparts. While…

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Filed under: News - @ October 18, 2024 1:13 am