XRP News: SEC Files Letter Outlining Basis for Interlocutory Appeal
The US Securities and Exchange Commission (SEC) has filed a letter explaining its intention to seek an interlocutory appeal regarding programmatic sales to XRP buyers and distribution channels used by Ripple. This comes on the same day as Judge Analisa Torres’ pretrial scheduling order. Ripple’s response to these developments will be filed next week.
Main Breakdowns:
- The SEC has filed a letter outlining its basis for seeking an interlocutory appeal
- Ripple will respond to the SEC’s appeal request next week
- The SEC is not appealing the decision that XRP is a security, but rather its losses on the programmatic and individual sale of the token
- The news of the SEC’s appeal filing caused a drop in XRP price
- Ripple’s response could potentially boost the token’s value next week
Hot Take:
The ongoing legal battle between Ripple and the SEC continues to have a significant impact on the XRP cryptocurrency. While the SEC seeks permission to file an interlocutory appeal, Ripple is preparing its response. The outcome of this case will have far-reaching implications for the crypto industry as a whole, and investors are eagerly awaiting further developments. In the meantime, the fluctuating price of XRP serves as a reminder of the volatility and uncertainty that comes with investing in cryptocurrencies.
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