Attorney Bill Morgan has clarified that the U.S. Securities and Exchange Commission's (SEC) recent appeal in the Ripple Labs case focuses solely on Ripple's programmatic sales and distributions of XRP. It does not concern secondary market sales made by retail investors on exchanges.
This statement comes in response to the SEC's recent filing of an appeal notice. Such legal clarifications are crucial as they distinguish between organizational sales activities and individual market transactions, which may have different regulatory implications.
The delineation of the SEC's focus may alleviate concerns among XRP holders who engage in individual sales on various cryptocurrency platforms. By specifying the appeal's scope, the clarification aims to address any potential misunderstandings in the crypto community regarding the case's legal complexities.
