Ripple has filed a cross-appeal in response to the SEC’s ongoing lawsuit regarding the status of XRP as a security. This move aims to challenge certain legal interpretations and actions taken by the SEC that Ripple considers unjust or overreaching. The lawsuit, which has been ongoing since 2020, centers around whether XRP should be classified as a security under U.S. law, which would subject Ripple to stricter regulations.
The cross-appeal comes as part of Ripple’s broader strategy to defend its position and potentially set a precedent for other cryptocurrency-related cases. Ripple has already scored partial victories, such as a ruling that XRP sales on secondary markets do not constitute securities transactions. However, Ripple is likely pushing back on other legal claims made by the SEC, particularly regarding institutional sales of XRP.
This legal battle has significant implications for both Ripple and the broader crypto market, as the outcome could influence how other cryptocurrencies are regulated in the U.S.
Would you like more details on the implications of this appeal or updates on the case timeline?
