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Ripple has filed a cross-appeal against the SEC, with its legal chief insisting that XRP’s non-security status remains untouchable due to strict court review limits. https://t.co/9sNfwQHYRi
Ripple Escalates SEC Battle, Defends XRP's Non-Security Classification https://t.co/9sNfwQHYRi
🚨NEW: @Ripple CEO @bgarlinghouse addresses the part of the cross-appeal filed last night seeking clarity on whether an investment contract under the Securities Act needs to have an explicit contract. @APompliano asks: “If crypto tokens are deemed to be an investment contract,… https://t.co/h4amDuyJXO
Ripple Labs has initiated a cross-appeal in the U.S. Court of Appeals for the Second Circuit, challenging several aspects of a significant ruling in its ongoing legal dispute with the Securities and Exchange Commission (SEC). The appeal specifically contests the application of the Howey test regarding XRP institutional sales. Ripple's CEO, Brad Garlinghouse, emphasized the need for clarity on whether an investment contract under the Securities Act requires an explicit contract. Ripple's legal team argues that XRP's classification as a non-security is robust, citing strict limits on court reviews as a defense against the SEC's assertions.
