Ripple submits Form C filing, challenging the SEC's securities definition of XRP

2024-10-25 08:00:12

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Odaily Planet Daily News According to Ripple Labs, in its ongoing legal dispute with the US SEC, it has submitted Form C, a pre-trial statement for civil appeals. Ripple requested the appellate court to review the legal issues using the “de novo” standard, with the main appeal focusing on the Southern District of New York’s ruling on Ripple XRP transfer application based on the howey test, as well as the issue of unfair notice from the SEC regarding Ripple’s conduct. Ripple is also seeking a reevaluation of the ‘fundamental elements’ of transactions classified as investment contracts and the scope of the SEC’s injunction against Ripple. Ripple’s chief legal officer stated that XRP has been clarified as a non-security, and the SEC has not raised any challenges. (The Block)

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