The court rejected the appeal made by the SEC regarding the recent Ripple case decision! Here are the latest developments for the SEC and Ripple lawsuit!

A legal struggle that has been going on for a long time in America and closely affects the crypto world was experienced. The federal judge rejected the appeal of the US Securities and Exchange Commission (SEC) to the previous court decision against cryptocurrency company Ripple Labs. Judge Analisa Torres, in her decision after examining the SEC’s appeal application, emphasized that the appeal did not demonstrate that the current court decision was sufficiently erroneous or problematic.

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In July, Ripple Labs secured a partial victory when the court ruled that the sale of XRP to exchanges or payment to employees should not fall under the category of a security. Judge Torres’ rejection decision could be a turning point in favor of this crypto company, while the SEC has not yet given up.

Legal Clash Shaping Crypto Market Landscape

The SEC hoped for a federal appeal court to review the decision before reaching a final verdict in April.However, Judge Torres’ rejection decision lead to the Ripple case entering a new stage. The US Securities and Exchange Commission reserves the right to appeal after April 2024.

These latest developments have significant effects on the future of the crypto currency market. The July court decision, coupled with the classification of XRP as a non-security, sent shockwaves through the crypto world. This development propelled XRP’s value by over 90%, challenging the prevailing perception that many considered cryptocurrencies as securities.

The crypto community and investors are closely following this legal battle between SEC and Ripple. The ongoing case may have a decisive effect on the regulation of the crypto market and future investments. During this process, investors should be careful when evaluating the value of their crypto assets and regulatory risks.

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