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 Torres’s ruling, which had freed Ripple’s retail XRP transactions from securities violations. Ripple is doubling down, aiming to ensure the SEC’s arguments on “investment contracts” face full scrutiny in the appeals court. 🏛️⚖️
The Clash Continues: Ripple’s Chief Legal Officer, Stuart Alderoty, took to X (formerly Twitter) to call out the SEC’s move, stating, “The SEC lost on all key points—that’s why they appealed.” He confirmed that Ripple’s cross-appeal will ensure all issues, including whether XRP can be classified as an investment contract, are properly addressed. Ripple’s stance is clear: XRP doesn’t meet the criteria to be classified as a security, especially when sold programmatically or on exchanges. 🚀
Judge Torres’s July ruling, which Ripple now seeks to reinforce, declared that Ripple’s retail sales of XRP did not violate securities laws. Alderoty emphasized that the SEC itself has argued that XRP, the asset itself, isn’t a security. Ripple’s legal team is determined to settle this once and for all. 📈🔥
Crypto Community Rallies: Ripple’s 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 Gensler’s stance on the crypto industry. The appeals court’s upcoming hearings will likely be pivotal in shaping the future regulatory landscape for digital assets like XRP. 🌐
Do you think Ripple has what it takes to win this fight and redefine crypto regulations? Let me know your thoughts below! 🗣️👇
