Ripple Pushes Back Against SEC’s Certification Request for Appeal
Ripple, the San Francisco-based payments company, is resisting the U.S. Securities and Exchange Commission’s (SEC) attempt to secure certification for an immediate appeal on a recent lawsuit ruling. The SEC sought approval to review a ruling that stated Ripple’s sales of XRP are not securities.
Key Points:
– Ripple argues that the exceptional requirements necessary for the approval of the certification request are not met.
– The SEC’s dissatisfaction with the court’s application of Howey to Ripple’s transactions in XRP is the main point of disagreement.
– Ripple CEO Brad Garlinghouse believes the SEC lost in the court ruling that challenged the agency’s claim that most crypto assets are securities.
– Ripple urges the court to deny the SEC’s request for certification and a stay pending appeal.
Hot Take
Ripple is taking a strong stance against the SEC’s attempt to overturn the landmark ruling on XRP. By opposing the certification request, Ripple aims to maintain the court’s decision that XRP is not a security. This legal battle will have significant implications for the cryptocurrency industry as it clarifies the regulatory framework surrounding digital assets.
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