Ripple's Chief Legal Officer: The legal status of XRP has not been shaken in the SEC appeal and will submit Form C next week

2024-10-20 11:33:16

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ChainCatcher news, according to Bitcoin.com, Ripple's Chief Legal Officer Stuart Alderoty recently stated when the SEC officially appealed the Ripple case in the U.S. that the ruling confirming that XRP is not a security for retail sales remains unchanged.

He wrote on X: "This is not surprising at all------ once again, everything is clear. The court's ruling that 'XRP is not a security' has not been appealed. This decision is the law of the land." In the appeal, the SEC questioned several key rulings, including the decision that Ripple executives Brad Garlinghouse and Chris Larsen's non-cash distribution and sale of XRP did not violate securities laws.

Ripple plans to submit its Form C next week as a cross-appeal against the institutional sales ruling. Both parties are preparing to extend the appeal process, which could impact the classification and regulation of digital assets in the future.

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