The U.S. Securities and Exchange Commission (SEC) has told a federal court that some portions of the Ripple ruling regarding XRP “were wrongly decided.” The regulator has asked the court to ignore parts of the ruling, noting that “SEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.”
SEC Disagrees With Ripple Ruling on Retail Investors
The U.S. Securities and Exchange Commission (SEC) stated in a new filing for its lawsuit against Terraform Labs and its co-founder Do Kwon that some decisions in the court ruling on the SEC v. Ripple case regarding XRP were wrong.
While noting that the Ripple ruling regarding institutional investors supports the SEC’s claims, the securities watchdog stated: “However, with respect to the programmatic and other sales, the SEC respectfully avers that Ripple conflicts with and adds baseless requirements to Howey and its progeny.” The regulator added:
Respectfully, thos
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