Ripple has just turned up the heat in its battle with the U.S. Securities and Exchange Commission (SEC) by filing a cross-appeal, challenging unresolved questions about XRP sales. This comes as the SEC pushes to overturn Judge Analisa Torresâs ruling, which had freed Rippleâs retail XRP transactions from securities violations. Ripple is doubling down, aiming to ensure the SECâs arguments on âinvestment contractsâ face full scrutiny in the appeals court. đïžâïž
The Clash Continues: Rippleâs Chief Legal Officer, Stuart Alderoty, took to X (formerly Twitter) to call out the SECâs move, stating, âThe SEC lost on all key pointsâthatâs why they appealed.â He confirmed that Rippleâs cross-appeal will ensure all issues, including whether XRP can be classified as an investment contract, are properly addressed. Rippleâs stance is clear: XRP doesnât meet the criteria to be classified as a security, especially when sold programmatically or on exchanges. đ
Judge Torresâs July ruling, which Ripple now seeks to reinforce, declared that Rippleâs retail sales of XRP did not violate securities laws. Alderoty emphasized that the SEC itself has argued that XRP, the asset itself, isnât a security. Rippleâs legal team is determined to settle this once and for all. đđ„
Crypto Community Rallies: Rippleâs bold move has sparked cheers across the crypto world, with industry leaders calling for pro-innovation lawmakers to step up and support Ripple by filing amicus briefs. The stakes are high, and Ripple is ready to challenge SEC Chair Gary Genslerâs stance on the crypto industry. The appeals courtâs upcoming hearings will likely be pivotal in shaping the future regulatory landscape for digital assets like XRP. đ
Do you think Ripple has what it takes to win this fight and redefine crypto regulations? Let me know your thoughts below! đŁïžđ
#Xrpđ„đ„ #SEC #Rippleđ° #Debate2024 #CryptoRegulationBattle
