Frustration mounts as Ripple CEO Brad Garlinghouse criticizes the SEC's stance on $XRP futures, claiming it contradicts court rulings. Bitnomial challenges SEC's authority, arguing futures should fall under CFTC jurisdiction. The crypto community watches closely!

#Ripple #SEC #CryptoRegulation #Bitnomial

🚨 Ripple in Trouble: $XRP
Investors Beware! 🚨

Crypto exchange Bitnomial has just filed a lawsuit against the SEC, asserting that $XRP is NOT a security! ⚖️ The exchange claims the SEC has overstepped its jurisdiction over digital assets, arguing that XRP is a commodity regulated by the Commodity Futures Trading Commission (CFTC).

In a federal lawsuit filed in Illinois on October 10, Bitnomial contends that XRP traded in secondary markets should not be classified as a security, especially following Judge Analisa Torres’ ruling. However, the SEC has announced plans to appeal this decision.

Bitnomial is seeking a declaratory judgment that its XRP futures are not securities and is pushing for an injunction to prevent the SEC from interfering with its operations. This legal battle follows similar actions from Cryptocom and Canary Capital, who have also taken the SEC to court recently.

With these developments, the future of XRP hangs in the balance. Stay alert and keep a close eye on the unfolding situation!

#CryptoDeNostradame #ParrotBambooCrypto #XRP #Bitnomial #CryptoRegulation