TL;DR
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It appears that the SEC is about to appeal the XRP ruling.
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The fact that the XRP token is not considered a security (think of a stock) under US law is a huge thorn in the side of the SEC.
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Because it sets a legal precedent that others can use to fend them off, now and in the future.
Full story
Yes, that head? Not exactly shocking.
The fact that the XRP token is not considered a security (think of a stock) under US law is a huge thorn in the side of the SEC.
It sets a legal precedent that others can use to fend them off, now and in the future.
So hearing that they’re now labeling the case as “wrongly decided,” ahead of an appeal? It is logical.
They need this thing to be destroyed and ruled in their favor if they start labeling other tokens, similar to XRP, as securities.
Will they make it?
No idea! We are not lawyers – and in the words of our friends, we are Are legal practitioners “No repetition of Law & Order will change that.”
(Gut punch).
Either way, we’ll keep our ears to the ground and keep you posted as soon as we find out more.
In the meantime, let’s hope the verdict sticks.