Ripple Intensifies Legal Fight with SEC, Upholds XRP’s Non-Security Status

Ripple has taken action by filing a cross-appeal against the U.S. Securities and Exchange Commission (SEC). The company’s legal executive emphasized the firm belief that the status of XRP as a non-security asset is solid and should not be challenged. Ripple’s move comes as part of its ongoing legal battle with the SEC over the classification of XRP.

The dispute between Ripple and the SEC centers on whether XRP should be considered a security or not. Ripple has consistently argued that XRP is not a security, pointing to its utility as a digital asset used for cross-border payments. The company’s legal team is determined to defend this position and has now escalated the legal proceedings by filing a cross-appeal against the SEC.

The legal chief at Ripple has made it clear that the company stands firm in its belief that XRP does not fall under the category of a security. The legal battle between Ripple and the SEC has been closely watched by the cryptocurrency community, as the outcome could have significant implications for the broader industry.

Ripple’s decision to file a cross-appeal underscores its commitment to challenging the SEC’s stance on XRP. The company is determined to protect the non-security status of XRP and is prepared to pursue all legal avenues to uphold this position. The legal proceedings between Ripple and the SEC are expected to continue as both parties present their arguments in court.

The outcome of the legal battle between Ripple and the SEC will likely have far-reaching consequences for the cryptocurrency market. The classification of XRP as a security or a non-security asset could impact how other cryptocurrencies are regulated in the future. As such, the outcome of this case is being closely monitored by industry participants and observers.

In conclusion, Ripple’s decision to file a cross-appeal against the SEC is a significant development in the ongoing legal dispute over the classification of XRP. The company remains steadfast in its position that XRP is not a security and is prepared to defend this stance through legal means. The outcome of this legal battle will have implications beyond Ripple and XRP, potentially shaping how cryptocurrencies are regulated in the future.