It’s been seven days since Judge Analisa Torres ruled partially in favor of Ripple, establishing that the court believes that secondary sales of XRP do not constitute an investment contract.
Much has happened in the cryptocurrency industry since then. The market exploded, led by XRP, of course, which soared by more than 70% on the news. A number of leading cryptocurrency exchanges re-listed the altcoin, causing a massive spike in open interest. In fact, the open interest for XRP futures hasn’t been higher in 2023.
But one thing that hasn’t happened yet is the US Securities and Exchange Commission filing an appeal. Will it? Meanwhile, some members of Congress are also not happy with how the SEC is approaching crypto regulations.
This Approach Does Not Protect the Public
In a letter to Gary Gensler on July 19th, Congressman French Hill, Chairman of the Subcommittee on Digital Assets, Financial Technology, and Inclusion, as well as Congressman Dusty Johnson, Chairman of the Subcom
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