SEC Files Appeal Against Ripple (XRP)
The U.S. Securities and Exchange Commission (SEC) continues to appeal the ruling that XRP is not a security to the Court of Appeals
In July 2023, the crypto market received a major boost when the court ruled that XRP should only be considered a security in direct sales to investment funds or third parties. This decision, along with the rejection of the SECâs appeal in August 2023, was seen as a significant victory for Ripple and the entire crypto industry.
However, the battle is far from over. On October 2, 2024, under the direction of Chairman Gary Gensler, the SEC once again filed an appeal with the Court of Appeals, extending the four-year legal fight with Ripple. This move came just a few months after Judge Analisa Torres imposed a $125 million fine on Ripple for the unauthorized sale of securities through XRP tokens.
