The post Ripple CEO Takes a Stand: Calls SEC’s Interlocutory Appeal Utter Nonsense appeared first on Coinpedia Fintech News
Ripple’s response to the SEC’s anticipated interlocutory appeal is breaking headlines. Let’s take a detailed look at the unfolding events.
The Verdict That Set the Stage
The legal battle between Ripple and the SEC over whether XRP should be classified as security led to a landmark ruling:
Institutional Sales: These were deemed as securities under the Howey test.
Programmatic Sales and Other Distributions: These were not considered securities.
This unprecedented, bifurcated decision has now set the stage for the next phase of the legal battle: the SEC’s interlocutory appeal and Ripple’s filed opposition.
Reminder – the request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial. But the SEC continues to claim that Chris and I acted recklessly in believing that XRP is not a security. Th
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