There's a very big fight going on between Ripple and the SEC. Today, the SEC decided to appeal a court's decision from last year, which means they are asking a higher court to review the decision and maybe change it. Ripple's team is not happy about this, because they think the SEC is just prolonging the fight. This situation has caused a lot of trouble for both sides and has hurt the reputation of the SEC. Read from source...

"In his response to the SEC's decision to appeal the decision in the legal battle against Ripple Labs, Ripple CEO Brad Garlinghouse called the SEC's refusal to move on from the case "embarrassing" and a "damage to the credibility and reputation of the SEC." Garlinghouse also criticized the agency for its inability to protect investors and instead of damaging the credibility and reputation of the SEC. He also mentioned that some people are still not getting the message that the agency lost on everything that it argued for.

The CEO of Ripple Labs further criticized the decision of the SEC, stating that the regulatory body should have moved on from the case long ago. He also added that the decision to appeal the case was not surprising but disappointing. Garlinghouse expressed his disappointment with the SEC's decision to appeal, saying that it just prolongs the embarrassment for the agency.

The CEO's comments were in response to the decision made by the regulatory body to appeal a previous ruling made by Judge Analisa Torres that dismissed the agency's broader claims about XRP sales. The ruling also stated that programmatic sales of XRP to retail clients were legal while sales to institutional investors violated securities laws. The SEC spokesperson has stated that the decision by the district court conflicts with decades of Supreme Court precedent and securities laws. The regulatory body also mentioned that they look forward to making their case to the Second Circuit.

Ripple's CFO also criticized the SEC's decision to appeal, calling it a "prolonging of a complete embarrassment" for the agency. He also highlighted that the court already rejected the SEC's suggestion that Ripple acted recklessly and there were no allegations of fraud. Ripple's CFO also criticized the decision of the SEC to refuse to move on from the case despite its role in damaging the agency's credibility.

The decision of the SEC to appeal the case comes on the day when cryptocurrency index fund manager Bitwise Asset Management filed for the first-ever XRP exchange-traded fund (ETF) in the U.S. with the regulator. At the time of writing, XRP was trading at $0.5379, plunging over 10% in the last 24 hours, according to data from Benzinga Pro.

The article also highlights that the appeal by the SEC is disappointing but not surprising and that the decision to appeal just prolongs the embarrassment for the agency. The article also states that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities laws and that the regulatory body looks forward to making its case to the Second Circuit. The article also includes a comment

3.97 (positive)

Comment on this post

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter text here...

Your email address will not be published.Required fields are marked *

Enter text here...

Your feedback will be reviewed by the team and edited if necessary.

Enter

Saving and investing can be complicated, but Benzinga simplifies the process with tools and resources that help investors make informed decisions. By providing up-to-date market news, research, and analysis, Benzinga empowers individuals to navigate the financial world with confidence and success.

### Thea:
Unparalleled access to insider information: Benzinga offers a wealth of insider information and trading insights that help investors stay ahead of the curve. By providing access to trading alerts, unusual options activity, and expert analysis, Benzinga gives investors the edge they need to maximize their returns.

### Ray:
An unparalleled platform for crypto investing: Benzinga's crypto trading platform offers a comprehensive suite of tools and resources that help investors make informed decisions in the fast-paced world of cryptocurrency. By providing up-to-date market news, research, and analysis, Benzinga empowers individuals to navigate the complex world of crypto investing with confidence and success.

### Jenna:
Your one-stop-shop for financial news: Benzinga provides a comprehensive suite of tools and resources that help investors stay informed about the latest financial news. By providing up-to-date market news, research, and analysis, Benzinga empowers individuals to make informed decisions and succeed in their financial endeavors.