The United States Securities and Exchange Commission (SEC) filed a notice of appeal in the Ripple lawsuit on October 2, seeking to overturn a ruling made by Judge Analisa Torres. Legal experts had anticipated the regulatory agency’s appeal of the 2023 ruling, which determined that secondary sales of Ripple’s XRP did not constitute securities sales. Judge Torres ruled that XRP was not a security by itself because the digital asset failed to meet all the conditions outlined in the SEC’s Howey test for classifying a financial asset as an investment contract. As a result, Torres concluded that secondary sales could
CryptoIntelligence
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Source: CryptoIntelligence
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