SEC Submits Opening Brief in XRP Appeal Against Ripple

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The securities regulator wants an appeals court to rule that XRP tokens sold to retail investors were unregistered securities, the latest in its years-long case against Ripple Labs.

The US Securities and Exchange Commission has filed its arguments appealing a federal court judge’s ruling in its partially failed case against Ripple Labs — which has been slammed by the company’s chief legal officer.

The SEC argued in a Jan. 15 filing to the Second Circuit Appeals Court that a New York District Court was wrong to rule that XRP sold to retail investors wasn’t an unregistered securities offering.


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