The U.S. Securities and Exchange Commission (SEC) has taken formal steps to appeal the court ruling regarding XRP. This decision reignites the legal question about whether XRP sales on cryptocurrency exchanges constitute the trading of securities. The case centers around the ruling made by Judge Analisa Torres.
The SEC is particularly focusing on key aspects of the decision that went in favor of Ripple. Among the contested points are the rulings that absolved Ripple executives from personal liability and recognized the legality of non-cash XRP distributions. This appeal signifies the continuation of a high-profile legal battle with significant implications for the crypto industry.
The appeal outcome could potentially influence regulatory frameworks and enforcement actions concerning cryptocurrency transactions in the U.S. The SEC's position aims to reassess the regulatory interpretation of cryptocurrency securities, potentially affecting similar cases in the future.
