TL;DR
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It Looks Like The SEC is About To Appeal The XRP Ruling.
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The fact that the XRP token is not considered a security (think: a stock) under U.S. law is a huge thorn in the side of the SEC.
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Because it sets a legal precedent that others can use to fend them off, now and into the future.
Full Story
Yeah, that headline? Not exactly shocking.
The fact that the XRP token is not considered a security (think: a stock) under U.S. law is a huge thorn in the side of the SEC.
It sets a legal precedent that others can use to fend them off, now and into the future.
So hearing that they’re now labelling the case as ‘wrongly decided,’ in the lead up to an appeal? It makes sense.
They need this thing to be overturned and ruled in their favor if they’re going to label other tokens, similar to XRP, as securities.
Whether they’ll be able to pull it off?
No idea! We’re not lawyers – and in the words of our friends that are legal practitioners “No amount of Law & Order re-runs is going to change that.”
(Gut punch).
Anyways, we’ll keep our ears to the ground and update you the minute we learn anything further.
In the meantime, let’s hope the ruling sticks.
