The United States Securities and Exchange Commission (SEC) has filed an appeal regarding the recent Manhattan court's ruling. The court had imposed a penalty of $125 million against Ripple Labs, which was significantly less than the SEC's demand of $2 billion. This was due to Ripple selling XRP as an unregistered security.
The court's decision was seen as a setback for the SEC, which has been trying to enforce stricter regulations on cryptocurrency firms. The legal battle between the SEC and Ripple Labs has garnered significant attention within the cryptocurrency community and has implications for how digital assets are classified under U.S. securities law.
Ripple Labs will soon present its arguments in response to the SEC's appeal, and the outcome could impact the regulatory landscape for cryptocurrencies in the U.S. This case is closely observed by cryptocurrency companies and investors alike, as it may set precedents affecting future regulatory actions.
