Ripple CLO confirms the SEC has not appealed the ruling that XRP is not a security.
Ripple plans to file a cross-appeal against the ruling that institutional XRP sales are securities.
The SEC is appealing other rulings but did not challenge XRPâs non-security status.
Rippleâs Chief Legal Officer, Stuart Alderoty, has confirmed that the SEC has not appealed the courtâs ruling that XRP is not a security. This unchallenged decision remains a major victory for Ripple and XRP holders, as it ensures that XRP itself will not be subject to further scrutiny under securities law in the SECâs ongoing case.
However, Ripple isnât stopping there. Alderoty revealed that the company plans to file its own Form C next week, launching a cross-appeal against the courtâs ruling on institutional sales of XRP. The court had previously determined that these sales constitute securities, leading to a $125 million fine imposed on Ripple in the final ruling delivered in August.
Ripple aims to contest this judgment, especially as the SEC has officially appealed several rulings that favored Ripple in the four-year-long case.
Details of SEC Appeal
The SEC âŠ
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