The US Securities and Exchange Commission (SEC) has appealed a recent court ruling that found XRP, the native token of Ripple Labs, is not a security when sold to retail investors on exchanges. While Ripple celebrated the 'partial victory' last summer, the SEC argues it remains an unregistered security offering when sold to institutional investors.
partial victory last summer. Still, while XRP isn't considered a security when sold to retail investors on exchanges, it is considered an unregistered security offering if sold to institutional investors.
Ripple declined to comment but referred to Wednesday evening posts on X by CEO Brad Garlinghouse and chief legal officer Stuart Alderoty., and called the SEC's decision to appeal"disappointing, but not surprising." The SEC, under Chair Gary Gensler, has become notorious for its refusal to provide clear guidance for crypto businesses, instead opting to regulate by enforcement actions.
"XRP's status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal," Garlinghouse) and ether , submitted a registration filing for what would be the first XRP ETF – two days after registering an XRP trust product in Delaware.
XRP Ripple SEC Crypto Regulation Appeal
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