According to FOX Business reporter Eleanor Terrett’s Twitter post, the U.S. SEC issued a statement on the court’s ruling on XRP, saying that it was satisfied with part of the ruling, but would still review the court’s decision. The specific content is:
“We are pleased that the court found that Ripple’s offer and sale of XRP tokens in the form of investment contracts violated the securities laws in certain circumstances. The court agreed with the SEC that the Howey test can be used to analyze whether crypto transactions are securities and rejected Ripple’s self-proposed test for what constitutes an investment contract, instead emphasizing that Howey and subsequent cases have ruled that a wide variety of tangible and intangible assets can be the subject of investment contracts. In addition, the court rejected Ripple’s fair notice argument, noting that the Howey test is clear and that claiming ignorance is not a defense to securities law violations. The SEC will continue to review this decision.”
