SEC Appeals Ruling, Seeks Review of XRP's Security Status
Summary:
The U.S. Securities and Exchange Commission (SEC) has filed a motion to appeal the ruling that XRP is not a security. The SEC argues that there are legal complexities that warrant a review. The agency is seeking a stay on the proceedings until the appeal is resolved.
The U.S. Securities and Exchange Commission (SEC) has filed a motion urging the court to allow an appeal in the Ripple Labs lawsuit. The lawsuit previously declared that XRP was not a security when sold to retail investors. The SEC argues that there are complex legal issues with the court's interpretation of the Howey Test that require further review. The agency is asking for a stay on the proceedings until the appeal is resolved.
Published At
9/9/2023 4:19:58 AM
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