{"id":583216,"date":"2023-07-22T03:20:54","date_gmt":"2023-07-22T02:20:54","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583216"},"modified":"2023-07-22T03:27:05","modified_gmt":"2023-07-22T02:27:05","slug":"sec-appeal-ripple-ruling-xrp-do-kwon","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/sec-appeal-ripple-ruling-xrp-do-kwon\/","title":{"rendered":"SEC May Appeal Ripple Ruling After Do Kwon Cites It In Motion To Dismiss"},"content":{"rendered":"\n
The U.S. Securities and Exchange Commission (SEC) has signaled that it may appeal the landmark ruling in its lawsuit against Ripple, which handed the crypto firm a major victory and set a precedent surrounding the security status of cryptocurrencies. The securities regulator\u2019s intent to appeal came to light in its latest filing in a separate lawsuit against Do Kwon and his defunct Terraform Labs. <\/p>\n\n\n\n
The summary judgment motion by Federal Judge Analisa Torres last week identified XRP\u2019s institutional sales as securities offerings. However, the judge ruled that retail or programmatic sales of XRP did not constitute an investment contract. This ruling was cited<\/a> by lawyers representing Terraform Labs\u2019 disgraced founder Do Kwon in the motion to dismiss the SEC\u2019s lawsuit against him and his firm. <\/p>\n\n\n\n