Ripple’s case against the US Securities and Exchange Commission continues to be at the forefront of community discussions as it has recently entered a new phase.
However, it’s important to put forward some clarifications in regard to the most recent developments in the lawsuit. Let’s dive in.
A Bit of Backstory
Last month, the presiding Judge, Analisa Torres, came out with a massive ruling which stated that secondary sales of XRP do not constitute investment contracts.
The market perceived this as a victory for Ripple, and the price of XRP skyrocketed by almost 100% and reached a high of close to $0.90.
However, the cryptocurrency has lost close to 50% of that since then and is currently trading at $0.50 following a crash of more than 15% in the past 24 hours alone.
That said, the SEC wasn’t happy with the ruling. Last week, the Commission filed an interlocutory brief, formalizing its intention to appeal the Judge’s ruling. Ripple opposed it yesterday. The company argued that
We współpracy z: https://cryptopotato.com/ripple-v-sec-case-update-august-18th-important-clarifications/
