SEC Asserts Ripple XRP Case was 'Wrongly Decided', Signals Appeal
The SEC has filed new documents in its lawsuit against Terraform Labs and its CEO Do Kwon, indicating a possible appeal of the recent Ripple rulings. The SEC argues that the judge's decision in the Ripple case should dismiss the rulings related to the retail sales of XRP, as it creates an artificial distinction between institutional and retail investors. The SEC believes that the Ripple ruling conflicts with the Howey test and undermines the basic principles of federal securities laws.
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SEC Asserts Ripple XRP Case was 'Wrongly Decided', Signals Appeal
The SEC has filed new documents in its lawsuit against Terraform Labs and its CEO Do Kwon, indicating a possible appeal of the recent Ripple rulings. The SEC argues that the judge's decision in the Ripple case should dismiss the rulings related to the retail sales of XRP, as it creates an artificial distinction between institutional and retail investors. The SEC believes that the Ripple ruling conflicts with the Howey test and undermines the basic principles of federal securities laws.