{"id":31180,"date":"2024-10-19T09:07:54","date_gmt":"2024-10-19T06:07:54","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31180"},"modified":"2024-10-19T09:07:54","modified_gmt":"2024-10-19T06:07:54","slug":"secs-objection-to-ripple-does-not-challenge-xrp-not-a-security","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/secs-objection-to-ripple-does-not-challenge-xrp-not-a-security\/","title":{"rendered":"SEC\u2019s Objection to Ripple Does Not Challenge XRP Not a Security"},"content":{"rendered":"<p>Ripple\u2019s chief legal officer Stuart Alderoty emphasized that the latest objection by the United States Securities and Exchange Commission (SEC) does not include an objection to the court\u2019s ruling that XRP is not a security.<\/p>\n<p>On October 16, the SEC filed a Form C civil objection in its lawsuit against Ripple to appeal some of the court\u2019s rulings in favor of Ripple. However, the objection does not target the ruling that XRP is not a security.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/secs-objection-to-ripple-does-not-challenge-xrp-not-a-security\/#SEC_Partially_Objects_to_Courts_XRP_Decision\" title=\"SEC Partially Objects to Court\u2019s XRP Decision\">SEC Partially Objects to Court\u2019s XRP Decision<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/secs-objection-to-ripple-does-not-challenge-xrp-not-a-security\/#XRP_Not_a_Security_Decision_Remains_Unchanged\" title=\"XRP Not a Security Decision Remains Unchanged\">XRP Not a Security Decision Remains Unchanged<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"SEC_Partially_Objects_to_Courts_XRP_Decision\"><\/span>SEC Partially Objects to Court\u2019s XRP Decision<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the objection filed by Ripple\u2019s defense attorney James Filan on October 17, the SEC requested that the court review the court\u2019s rulings regarding Ripple\u2019s XRP sales on exchanges and the personal XRP sales of CEO Brad Garlinghouse and co-founder Chris Larsen.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"XRP_Not_a_Security_Decision_Remains_Unchanged\"><\/span>XRP Not a Security Decision Remains Unchanged<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ripple\u2019s chief legal officer Stuart Alderoty, in a statement on social media platform X regarding the SEC\u2019s objection, stated that the SEC\u2019s application does not object to the decision that XRP is not a security. \u201cThis decision remains a matter of law,\u201d Alderoty said, adding that Ripple plans to file its own objection next week.<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-babydoge\/\">What is BabyDoge?<\/a><\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-31181 size-full\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/xrp.webp\" alt=\"\" width=\"610\" height=\"387\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/xrp.webp 610w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/xrp-300x190.webp 300w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/p>\n<p>The SEC\u2019s objection revived allegations that Garlinghouse and Larsen violated securities laws and helped Ripple violate those laws. It also requested that the court review the partial summary judgments it issued in favor of Ripple, particularly those related to XRP sales on exchanges and the distribution of XRP for non-cash payments. The SEC stated that these issues should be reviewed de novo (from the beginning).<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" rel=\"nofollow\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple\u2019s chief legal officer Stuart Alderoty emphasized that the latest objection by the United States Securities and Exchange Commission (SEC) does not include an objection to the court\u2019s ruling that XRP is not a security. On October 16, the SEC filed a Form C civil objection in its lawsuit against Ripple to appeal some of<\/p>\n","protected":false},"author":6,"featured_media":30529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[509,7538,506,555,7747],"class_list":["post-31180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-ripple","tag-ripple-sec","tag-xrp","tag-xrp-case","tag-xrp-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC\u2019s Objection to Ripple Does Not Challenge XRP Not a Security - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/secs-objection-to-ripple-does-not-challenge-xrp-not-a-security\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC\u2019s Objection to Ripple Does Not Challenge XRP Not a Security - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ripple\u2019s chief legal officer Stuart Alderoty emphasized that the latest objection by the United States Securities and Exchange Commission (SEC) does not include an objection to the court\u2019s ruling that XRP is not a security. 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