Wall Street’s main securities regulator will ask the 2nd U.S. Circuit Court of Appeals in Manhattan to review a July 2023 decision that the XRP token sold by Ripple Labs on public exchanges did not meet the legal definition of a security.
The decision by U.S. District Judge Analisa Torres meant the sales of the token, totaling about $757 million, were not subject to investor protection laws that the SEC enforces.
If the appeals court agreed, or defined securities narrowly, it could impede the SEC’s ability to police the cryptocurrency exchange Coinbase and other defendants selling or making markets for newer, non-traditional financial products.
Torres also gave the SEC a partial victory, saying another $728 million of XRP sales to institutional investors should have complied with securities laws.
-
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
-
Artificial Intelligence(AI)
Basics of Generative AI : Unveiling Tomorrow’s Innovations
-
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
-
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
-
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
-
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
-
Astrology
Vastu Shastra Course
-
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
-
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
-
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
-
Marketing
Digital marketing – WordPress Website Development
-
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
-
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
-
Leadership
Business Storytelling Masterclass
-
Marketing
Future of Marketing & Branding Masterclass
-
HR
Human Potential and the Future of Employment
-
Strategy
ESG and Business Sustainability Strategy
-
Finance
Financial Reporting and Analytics
She fined Ripple $125 million in August, but put the fine on hold pending an appeal. The SEC had sought $2 billion. Torres’ stay would last until the 2nd Circuit ruled, court records show.
Discover the stories of your interest
Lawyers for Ripple did not immediately respond to requests for comment on the SEC’s notice of appeal, which was filed in Manhattan federal court. Ripple could also appeal parts of Torres’ decisions that it disliked.
