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SEC Appeals Decision In Landmark Ripple Case

On Wednesday, the SEC filed (PDF) to appeal a 2023 court ruling that determined XRP is not considered a security when sold to retail investors on exchanges. The announcement sent the price of XRP tumbling more than 8%. "XRP, which was created by the founders of Ripple, is the native token of the ope...

On Wednesday, the SEC filed(PDF) to appeal a 2023 court ruling that determined XRP is not considered a security when sold to retail investors on exchanges. Ripple declined to comment but referred to Wednesday evening posts on X by CEO Brad Garlinghouse and chief legal officer Stuart Alderoty. The SEC, under Chair Gary Gensler, has become notorious for its refusal to provide clear guidance for crypto businesses, instead opting to regulate by enforcement actions.

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