Ripple has quickly countered the Securities and Exchange Commission's (SEC) recent appeal by filing its own cross-appeal. This move aligns with Ripple executives' pledge to robustly defend the company against the SEC's allegations.
The SEC's appeal primarily targets Ripple's sales of XRP and specific transactions by its founders, seeking further scrutiny. In response, Ripple's cross-appeal highlights several critical regulatory standards that it believes warrant reconsideration, potentially impacting the broader cryptocurrency regulatory framework.
This legal battle and subsequent cross-appeal could have significant implications for the legal categorization of cryptocurrencies and how they are regulated, as Ripple challenges specific interpretations and applications of existing securities laws.
Source : www.fxcryptonews.com ↗