SEC Appeals Ripple Ruling, Impacting XRP Market

The SEC challenges a court decision limiting its regulatory power over Ripple's XRP sales, seeking review by the Second Circuit Court of Appeals.

The SEC has filed an appeal against a federal judge's ruling that XRP sales on public exchanges did not constitute securities transactions.
This legal action follows a previous court decision that partially favored Ripple, allowing programmatic sales but penalizing institutional sales as unregistered securities.
Ripple was fined $125 million, significantly less than the $2 billion initially sought by the SEC, with the fine stayed pending the appeal outcome.
Ripple's CEO criticized the SEC's decision to appeal, arguing it damages the agency's credibility and fails to protect investors.
The outcome of this appeal could influence the SEC's regulatory authority over other cryptocurrency exchanges and financial products.