đ„ The latest news concerning the SEC and Ripple (XRP) revolves around the SEC filing an appeal in the ongoing lawsuit. On October 17, 2024, the SEC submitted a last-minute Civil Appeal Form (Form C) challenging specific aspects of the case, focusing on Rippleâs sales practices. Notably, the SEC is targeting the programmatic sales of XRP on digital platforms and the involvement of Ripple executives Brad Garlinghouse and Chris Larsen. However, it is important to note that the SEC is not appealing the decision that XRP itself is not a security, which remains intact following a July 2023 ruling.
The SEC is instead concentrating on Rippleâs sales and certain distributions, hoping for a review by the appellate court. This development keeps the legal battle alive, but Ripple has expressed confidence since the key decision regarding XRPâs status remains unchallenged #
