The U.S. Securities and Exchange Commission (SEC) has taken a step to appeal the July 13 Ripple court order
The heart of the dispute revolves around whether the offers and sales of XRP by Ripple are considered"investment contracts" as stipulated under the Howey test.
When it comes to institutional sales, the court had affirmed that the Howey criteria were met. However, there have been differences in rulings regarding the classification of coins sold directly to institutional investors versus those sold to retail investors through secondary markets. The ongoing legal battle has been under the microscope of crypto industry leaders and experts. The SEC's appeal motion underscores the importance of clarity in the burgeoning cryptocurrency sector.is seeking affirmation of the court's July decision, but the SEC believes that an interlocutory review could provide the necessary clarity and, thus, is urging for an immediate appeal.
The outcome of this motion could shape the trajectory for many similar cases in the crypto domain, making it a closely watched event by stakeholders and investors alike.
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