SEC Lawsuit Against Ripple Rejected By Judge, Victory For XRP Community!

The SEC sued Ripple again but was rejected by the court. (Photo; Doc. CryptoActu)

JAKARTA - In the latest developments in legal cases between the US Securities and Exchange Commission (SEC) and Ripple, US District Judge Analyse Torres has rejected an appeal from the SEC. The appeal relates to two previous decisions involving the XRP cryptocurrency in a regulatory lawsuit against Ripple.

In a decision announced on Tuesday, Judge Torres stated that "The SEC's motion for the appeal certification was rejected, and the SEC's request for a suspension was rejected due to debate." Torres also criticized the SEC for failing to adequately explain why previous decisions in favor of Ripple were considered wrong.

This case went back to July when Judge Torres decided that Ripple's XRP sales program could not be considered an offer and sale of investment contracts. He also explained that XRP cannot always be considered a security measure. However, the ruling states that the sale of XRP to certain institutions may be considered securities transactions.

After these decisions, the XRP value increased by about 6%, although then it experienced a small decline. Further trials in this case are scheduled to take place in April 2024 to discuss the remaining problems.

This case is one of the most influential legal cases in the crypto world, and the final decision could have a significant impact on crypto regulations and regulations in the United States.