Ripple Counters SEC’s Appeal on XRP’s Status

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    understanding conflict

    with ripple U.S. Securities and Exchange Commission (SEC) have collided. The SEC has appealed past decisions on: XRP. The decision said that XRP is primarily not a security.

    Content of objection

    On September 1, Ripple’s attorneys sent documents to a New York court. They argue that the SEC appeal is due to their own misfortune. They disagree that XRP is not a security for retail sale. Lawyers say there are no “exceptional circumstances” in the appeal. Therefore, they ask the judge to dismiss the appeal.

    Ripple’s Perspective

    Ripple spoke up. They said the SEC has not provided a valid reason to stay the lawsuit. Ripple also mentioned other defendants who had problems with the SEC’s actions. Ripple supports these defendants.

    Industry updates and other voices

    In August, the SEC elected to challenge the July ruling. This judgment was made by Judge Analisa Torres, said XRP is primarily not a security. However, the SEC believes there is a clear disagreement on this point.

    Garlinghouse of Ripple shared his thoughts. He said it saddens him that U.S. crypto companies often have to go to court. They aim to show that the SEC is making a mistake.