XRP Price Collapses as SEC Appeals Ripple Case
10/03/2024 03:58
The SEC has decided to appeal the Ripple case
The U.S. Securities and Exchange Commission has decided to appeal the Ripple case.
As reported by U.Today, the agency was widely rumored to challenge the court ruling.
Last year, Analisa Torres, a judge for the United States District Court for the Southern District of New York, recognized secondary XRP sales as non-securities. This has been framed as a substantial win for Ripple, but the distinction between programmatic and institutional sales has proven to be quite controversial.
The deadline for the SEC's appeal was set for Oct. 7.
The price of XRP is down nearly 6%.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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