Ripple Counters SEC’s Interim Appeal, Asserts XRP’s Value
Ripple, the fintech company behind XRP, has filed a countermove against the SEC’s interim appeal. Here are the key points to note:
1. Ripple denies the SEC’s claim that XRP is “computer code with no intrinsic value” and points out that the court did not make such a ruling.
2. XRP is more than just code – it serves as a bridge virtual asset for intercontinental transactions.
3. The court has already determined that XRP does not meet the Howey Test’s requirements for being an investment contract, making it not classified as a security.
4. Ripple plans to file cross-appeals if the SEC’s interim appeal is approved, specifically targeting the court’s judgment on institutional sales and defending against attempts to classify post-lawsuit sales as securities.
5. Crypto law experts have weighed in, with one emphasizing Ripple’s commitment to defending post-lawsuit sales and another expressing skepticism about the SEC’s motivations.
Hot Take: Ripple Takes a Stand, XRP’s Value Remains
Ripple’s filing clearly demonstrates its determination to defend XRP and its value. By asserting that XRP is more than just code and highlighting its role as a bridge virtual asset, Ripple aims to counter the SEC’s claims and safeguard its position in the crypto market. With the support of legal experts and a planned strategy for cross-appeals, Ripple is positioning itself to protect its interests and challenge the SEC’s actions. The outcome of this legal battle will have significant implications for the future of XRP and the broader crypto industry.
By
By
By
By