The SEC vs. Ripple saga unfolds further XRP
The fascinating legal tussle between the Securities and Exchange Commission and San Francisco-based blockchain juggernaut Ripple has taken a new turn.
This comes after the SEC submitted a letter detailing its reasons for a motion to file an interlocutory appeal concerning the"programmatic" offers and sales of XRP on trading platforms as well as Ripple's"other distributions." The motion is in response to Judge Torres' earlier ruling that some XRP transactions and distributions are not securities under the Howey Test, which establishes what qualifies as an investment contract.
Legal analysts, including Ji Kim, have weighed in on this development. Kim reasserted his belief that Judge Torres had made the right decision. Despite the SEC's recent actions, Kim is optimistic about clarity in the digital asset space and believes that even if the case reaches the Supreme Court, it would further guide the judicial system to a proper conclusion.
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