Ripple v SEC Case Update: Agency Appeals 2023 Ruling—What Lies Ahead?

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The SEC formally appealed to overturn Judge Torres’ ruling, seeking summary judgment on XRP retail sales and compensation-based offers.

The U.S. Securities and Exchange Commission (SEC) has formally appealed against a 2023 ruling that found sales of Ripple’s XRP token on crypto exchanges did not break securities laws.

According to the regulator, District Court Judge Analisa Torres was “factually and legally” wrong when she concluded that offers and sales of XRP to the public via crypto trading platforms and the company’s offers of the token as employee compensation and in business deals did not constitute investment contracts.

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