XRP legal battle resumes: SEC’s appeal and market impact#美SEC对XRP裁决提出上诉 #BTC要挑战7W大关了吗？
The U.S. Securities and Exchange Commission (SEC) strikes again and formally appeals against Ripple (XRP), taking this legal battle to a new peak! Looking back on July 13, 2023, the court made a key ruling that Ripple's XRP transactions did not constitute unregistered securities, and also pointed out that neither the personal sales of Ripple executives nor the exchange of XRP for services violated securities laws. However, the SEC's appeals have fiercely attacked these rulings, and the market has once again been plunged into uncertainty.
This battle is not limited to the SEC and Ripple. The cryptocurrency derivatives exchange Bitnomial is not to be outdone and filed a lawsuit against the SEC, questioning its regulatory authority over XRP futures contracts. The SEC considers XRP futures to be "security futures," a position that, if confirmed, will affect Bitnomial's business operations. In addition, asset management institutions such as Bitwise and Canary Capital have submitted applications for XRP spot ETFs to the SEC, but amid the fog of SEC appeals, the prospects for these applications appear slim.
Despite the stormy waters of the SEC's actions, the price of XRP has remained strong, falling only slightly by 0.7% in the past 24 hours to $0.55, demonstrating the market's resilience.
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