Ripple has officially filed a Form C to appeal against the U.S. Securities and Exchange Commission's decision regarding the classification of institutional XRP sales. The company contends that the SEC wrongly applied the Howey test, which is used to determine whether a transaction qualifies as an investment contract.
Ripple argues that the application of the Howey test to XRP sales is inappropriate and seeks to challenge the legal basis of the SEC's judgment. This move raises significant questions about future regulation and classification of cryptocurrencies under U.S. law.
The outcome of this appeal may have significant implications not only for Ripple but also for other cryptocurrency companies and their regulatory standing. The ongoing legal battle continues to attract attention from both industry stakeholders and legal experts.
