The SEC has officially appealed its case against Ripple after the court ruled for Ripple to pay a $125 million fine, much lower than the $2 billion initially sought.
The SEC claims the decision conflicts with established Supreme Court precedents and securities laws.
Ripple's Chief Legal Officer, Stuart Alderoty, expressed disappointment, calling the lawsuit "irrational" and noting the court rejected claims of recklessness, fraud, and financial losses.
Cardano founder Charles Hoskinson humorously suggested that the Ripple case could potentially replace the Howey Test, highlighting the case's significance for the cryptocurrency industry.
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