{"id":34989,"date":"2025-01-16T13:30:17","date_gmt":"2025-01-16T10:30:17","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34989"},"modified":"2025-01-16T12:30:27","modified_gmt":"2025-01-16T09:30:27","slug":"sec-appeals-in-ripple-case","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/","title":{"rendered":"SEC Appeals in Ripple Case!"},"content":{"rendered":"<p>The <strong>U.S. Securities and Exchange Commission (SEC)<\/strong> has appealed a New York District Court ruling that <strong>XRP<\/strong> sold to retail investors is not an unregistered security.<\/p>\n<p>In its January 15 filing to the Second Circuit Appeals Court, the SEC requested the overturn of the decision and for <strong>XRP<\/strong> sales to retail investors to be classified as unregistered securities. The SEC also argued that <strong>XRP<\/strong> distributed as employee compensation and in business deals should be deemed securities.<\/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\/sec-appeals-in-ripple-case\/#Allegations_Against_Ripple\" title=\"Allegations Against Ripple\">Allegations Against Ripple<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#XRP_and_Market_Reaction\" title=\"XRP and Market Reaction\">XRP and Market Reaction<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Allegations_Against_Ripple\"><\/span>Allegations Against Ripple<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The SEC claimed that <strong>Ripple<\/strong>\u2019s promotional efforts made <strong>XRP<\/strong> an investment contract, fulfilling the requirements of the <strong>Howey Test<\/strong>, which defines securities. However, in July 2023, Judge Analisa Torres ruled that <strong>XRP<\/strong> was a security when sold to institutions but not when sold to retail investors through exchanges, as these investors didn\u2019t know the seller.<\/p>\n<hr \/>\n<p><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-shared-that-memecoin-flew-up-500\/\">Elon Musk Shared, That Memecoin Flew: Up 500%!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p>Ripple CEO <strong>Brad Garlinghouse<\/strong> criticized the appeal, saying, &#8220;The SEC is doing the same thing over and over and expecting different results.&#8221; Ripple\u2019s Chief Legal Officer <strong>Stuart Alderoty<\/strong> also dismissed the SEC\u2019s arguments as \u201ca rehash of already failed claims.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-01\/01946d94-a9cd-7173-b031-965652e6aa06\" alt=\"ripple\" width=\"984\" height=\"612\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"XRP_and_Market_Reaction\"><\/span>XRP and Market Reaction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The appeals process could take months, with Ripple submitting counter-arguments and the court potentially hearing oral arguments. Ripple has also cross-appealed parts of the case it lost, including a $125 million civil penalty ruling.<\/p>\n<p>Despite the SEC\u2019s filing, <strong>XRP<\/strong> surged by 10% in the past 24 hours amid broader crypto market gains.<\/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\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has appealed a New York District Court ruling that XRP sold to retail investors is not an unregistered security. In its January 15 filing to the Second Circuit Appeals Court, the SEC requested the overturn of the decision and for XRP sales to retail investors to be classified<\/p>\n","protected":false},"author":28,"featured_media":31074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[11069,1648,840,847,58,9562,509,39,6118,11070,506,507],"class_list":["post-34989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-appeal","tag-brad-garlinghouse","tag-crypto-market","tag-crypto-news","tag-cryptocurrency","tag-howey-test","tag-ripple","tag-sec","tag-securities","tag-stuart-alderoty","tag-xrp","tag-xrp-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Appeals in Ripple Case! - 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\/sec-appeals-in-ripple-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Appeals in Ripple Case! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The U.S. Securities and Exchange Commission (SEC) has appealed a New York District Court ruling that XRP sold to retail investors is not an unregistered security. In its January 15 filing to the Second Circuit Appeals Court, the SEC requested the overturn of the decision and for XRP sales to retail investors to be classified\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-16T10:30:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-16T09:30:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Yigit Taha OZTURK\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yigit Taha OZTURK\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/\",\"name\":\"SEC Appeals in Ripple Case! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png\",\"datePublished\":\"2025-01-16T10:30:17+00:00\",\"dateModified\":\"2025-01-16T09:30:27+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png\",\"width\":1920,\"height\":1080,\"caption\":\"XRP ETF\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Appeals in Ripple Case!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\",\"name\":\"Yigit Taha OZTURK\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"caption\":\"Yigit Taha OZTURK\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Appeals in Ripple Case! - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/","og_locale":"en_US","og_type":"article","og_title":"SEC Appeals in Ripple Case! - Coin Engineer","og_description":"The U.S. Securities and Exchange Commission (SEC) has appealed a New York District Court ruling that XRP sold to retail investors is not an unregistered security. In its January 15 filing to the Second Circuit Appeals Court, the SEC requested the overturn of the decision and for XRP sales to retail investors to be classified","og_url":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/","og_site_name":"Coin Engineer","article_published_time":"2025-01-16T10:30:17+00:00","article_modified_time":"2025-01-16T09:30:27+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13-1024x576.png","type":"image\/png"}],"author":"Yigit Taha OZTURK","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yigit Taha OZTURK","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/","url":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/","name":"SEC Appeals in Ripple Case! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png","datePublished":"2025-01-16T10:30:17+00:00","dateModified":"2025-01-16T09:30:27+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/Adsiz-tasarim-13.png","width":1920,"height":1080,"caption":"XRP ETF"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/sec-appeals-in-ripple-case\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Appeals in Ripple Case!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc","name":"Yigit Taha OZTURK","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","caption":"Yigit Taha OZTURK"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/34989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=34989"}],"version-history":[{"count":1,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/34989\/revisions"}],"predecessor-version":[{"id":34991,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/34989\/revisions\/34991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/31074"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=34989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=34989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=34989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}