Ripple Appeals SEC Ruling on Institutional XRP Sales, Files Form Cđ¸đ¸
Ripple Labs has officially filed a Form C with the United States Court of Appeals for the Second Circuit, challenging the SECâs ruling on institutional XRP sales. Ripple claims the Howey test was misapplied in the decision. This move follows an August ruling from the US District Court for the Southern District of New York, which fined Ripple $125 million, declaring that its institutional sales of XRP were securities transactions.
Rippleâs chief legal officer, Stuart Alderoty, confirmed the filing on Oct. 25, emphasizing that the SEC cannot introduce new evidence or demand further documentation from Ripple. The outcome of this appeal could have significant implications for both Ripple and broader cryptocurrency regulations.
