{"id":2381,"date":"2023-07-23T07:43:02","date_gmt":"2023-07-23T02:13:02","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=2381"},"modified":"2023-07-23T07:43:03","modified_gmt":"2023-07-23T02:13:03","slug":"sec-signals-appeal-to-crypto-ripple-ruling","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/sec-signals-appeal-to-crypto-ripple-ruling\/","title":{"rendered":"SEC Signals Appeal to Crypto Ripple Ruling"},"content":{"rendered":"\n
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Cetoex News – <\/strong> The\u00a0US Securities and Exchange Commission\u00a0(SEC) asked a federal judge today to\u00a0appeal\u00a0parts of a recent ruling in the\u00a0Ripple Labs case. The SEC says the decision doesn\u2019t square with existing securities laws.<\/p>\n\n\n\n

Ripple XRP saw a landmark victory for crypto in its SEC lawsuit, in which Ripple XRP is not\u00a0considered a security. A judge concluded last week that sales of Ripple\u2019s XRP token directly to institutional investors violated the SEC\u2019s rules, but offerings to retail investors on exchanges did not.<\/p>\n\n\n\n

\u201cRespectfully, those portions of Ripple were wrongfully decided, and this court should not follow them,\u201d the appeal reads.<\/p>\n\n\n\n

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\u201cSEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.\u201dSEC Appeal to Ripple XRP Ruling<\/p>\n<\/blockquote>\n\n\n\n

The SEC adds that it \u201cimproperly transforms\u201d a decades-old test for determining when assets are securities, known as the Howey Test, into a subjective standard. The agency asked the court to reject that part of the decision.<\/p>\n\n\n\n

\"The\u00a0US
Source: Coingape<\/figcaption><\/figure>\n\n\n\n

In addition, lawyers from Terraform Labs and for Do Kwon filed earlier this week that the ruling in the Ripple case should support their motion to dismiss their own SEC lawsuit. The SEC filed a lawsuit against Terra back in February of this year. Terra attorneys say the Ripple decision \u201cconfirms the legal insufficiency of the SEC\u2019s argument\u201d that certain tokens were securities.<\/p>\n\n\n\n

It\u2019s unknown how the SEC appeal will carry on in the court. Or if they will return to the Ripple ruling after the new filing. If so, the victory for crypto may not last long if the case resumes.<\/p>\n\n\n\n

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Cetoex News – The\u00a0US Securities and Exchange Commission\u00a0(SEC) asked a federal judge today to\u00a0appeal\u00a0parts of a recent ruling in the\u00a0Ripple Labs case. The SEC says the decision doesn\u2019t square with… <\/p>\n","protected":false},"author":1,"featured_media":2386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[41,44,106,996,26,995],"class_list":["post-2381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-cetoex","tag-cetoex-news","tag-crypto","tag-crypto-ripple","tag-cryptocurrency","tag-sec-signals"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/07\/cryptocurrency-SEC-bitcoin-regulation-800x480.jpg.webp","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=2381"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2381\/revisions"}],"predecessor-version":[{"id":2387,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/2381\/revisions\/2387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/2386"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=2381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=2381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=2381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}