Ripple Labs Faces SEC's Appeal Push On Controversial XRP Security Decision
Portfolio Pulse from AJ Fabino
The Securities and Exchange Commission (SEC) has filed for an interlocutory appeal, seeking an immediate review of a federal judge’s ruling that XRP isn't a security when sold to the general public. The SEC argues that this ruling could have significant implications for ongoing legal proceedings, including those involving Coinbase Global Inc (NASDAQ:COIN) and Binance. The defense argues that the SEC hasn't substantiated the necessary burden to stretch the Howey test to encompass all of Ripple's XRP distributions.
August 18, 2023 | 8:22 pm
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NEGATIVE IMPACT
The SEC's appeal on the XRP ruling could potentially impact ongoing legal proceedings involving Coinbase Global Inc.
The SEC's appeal on the XRP ruling could potentially impact ongoing legal proceedings involving Coinbase. If the SEC's appeal is successful, it could set a precedent that may affect Coinbase's operations and potentially its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The SEC's appeal on the XRP ruling could potentially impact the value of XRP.
The SEC's appeal on the XRP ruling could potentially impact the value of XRP. If the SEC's appeal is successful, it could lead to XRP being classified as a security, which could impact its value and trading.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100