Bitnomial has filed a lawsuit against the SEC, accusing the agency of overstepping its authority over digital assets by claiming that XRP is a security.

- Bitnomial argues that XRP is already regulated as a commodity.

- The SEC is requiring XRP futures to be registered as securities, which Bitnomial says is impossible to do.

- Bitnomial is seeking a court order to prevent the SEC from taking action against the company.

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