SEC Appeals Court Ruling on XRP, Seeks to Redefine Investment Contracts
The U.S. Securities and Exchange Commission (SEC) has formally appealed a recent court ruling regarding XRP, challenging the finding that transactions involving XRP purchased by public investors did not qualify as “investment contracts” under the Howey test. The district court ruled that the transactions did not meet the criteria because of whether Ripple was the seller. Now, the SEC is seeking an appeals court to overturn this ruling, holding that Ripple’s XRP sales should indeed be considered sales of investment contracts. The outcome of this appeal could redefine the regulatory landscape for cryptocurrency trading in the United States
