Key Points
- Ripple filed Form C, outlining key issues in its cross-appeal.
- XRP’s status as a non-security remains unchallenged by the SEC.
- Appeals Court will review existing records, not new evidence.
- Ripple’s business growth continues despite the SEC’s tactics.
The Ripple SEC Appeal recently took a crucial step forward as Ripple filed Form C, outlining its core arguments in the cross-appeal against the SEC.
At the center of this appeal is Ripple’s assertion that XRP, its native cryptocurrency, should not be classified as a security.
This aligns XRP with Bitcoin as one of the few digital assets holding regulatory clarity. Ripple’s legal team aims to protect XRP’s status, reinforcing stability in the evolving crypto landscape.
Today, Ripple filed a Form C – listing the issues we plan to raise on our cross appeal. A few things to keep in mind as we move forward:
The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being… https://t.co/AmFocAnbPx
— Stuart Alderoty (@s_alderoty) October 25, 2024
XRP Appeal Court Bars New Discussions in Final Ruling
Reviewing the whole case anew with all the original documentation and video recordings was one of the options that the SEC Ripple Appeal was supposed to present for the consideration of the US Court of Appeals.
This implies that the possibility of a revised appeal criticizing the position without rewriting the opposing position on the constitutional features of the United States also becomes moot as a likelihood which implies possibilities to explore other documentation from Ripple or bringing in additional evidence is curtailed.
This explains why there may have been no appeals seeking new grounds in the oddity of new evidence submission in the case and why the new arguments in favor of evidence presented in the case remain sparse which also explains their reaching out to the courts.
Securities law regulation general rules and lexicon all over which have been hitherto absent all in an attempt to forewarn issues under which tokens shall be classified aggravating factors bound to mitigate losses to be incurred.
The SEC drew a bead on XRP, not as a digital currency, but rather on the fundamental principles of Ripple Labs. It is another of the prickly antitrust contracts with the objective of further regulation of the crypto space.
Notably, Ripple holds a slightly different stance on this idea, in the aftermath of the appeal the company remains focused on exhibiting net growth.
The group of Ripple claims that the legal status is that of direct control on XRP and this tends to enhance the level of trust of the investors and positive expansion of the business of Ripple.
Ripple’s Win Could Ease Crypto Regulations
Whether or not Ripple can prove that the appeal is a gamble on being able to change the mindset of the courts when it comes to the currency sector.
Ripple is in the last climb towards consolidating XRP’s legal control once and for all after a series of legal wrangles for nearly a decade.
Within the bigger picture, the legal precedent set by this particular case would then be expanded and explained to possibly serve as a guide or a standardized approach for potential companies facing scrutiny or examination from regulatory agencies.
In addition to operating stronger in the international markets, Ripple has also expanded its footing in the domestic market protected from SEC.
The SEC of Washington case against Ripple XRP currency is one of the strongest and endearing court challenges that crypto companies have made.
This may reach the definition point for many crypto companies, especially with great legal backing and validation for less punitive regulatory action.
