{"id":158664,"date":"2023-09-19T18:07:53","date_gmt":"2023-09-19T12:37:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=158664"},"modified":"2023-09-19T18:07:53","modified_gmt":"2023-09-19T12:37:53","slug":"is-sec-underscoring-courts-ruling-in-xrp-lawsuit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-sec-underscoring-courts-ruling-in-xrp-lawsuit-crypto-news\/","title":{"rendered":"Is SEC Underscoring Court\u2019s Ruling In XRP Lawsuit? – Crypto News"},"content":{"rendered":"

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In a recent statement on X(Formerly Twitter), pro-XRP lawyer Bill Morgan expressed his bewilderment at the contrasting weight given to court\u2019s ruling and SEC\u2019s statements regarding recent XRP ruling<\/a> . Morgan\u2019s statement comes from ongoing litigation surrounding classification of XRP as a security in Ripple Vs SEC lawsuit.\u00a0<\/span>
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Court Or SEC, Who Has More Weight?<\/strong><\/h2>\n

The lawsuit in question revolves around the SEC\u2019s contention that XRP, a digital asset created by Ripple Labs, should be classified as a security. On the other hand, Ripple Labs has consistently argued that XRP is a digital currency and not a security.\u00a0<\/span>
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<\/span>Read more: <\/strong>XRP Lawyers Lambast NYDFS For Targeting Ripple, Calling The Action \u201cPolitical\u201d<\/span><\/a><\/p>\n

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However, this legal battle\u2019s outcome is not yet known as the legal battle continues as the SEC now <\/span>races to counter this verdict<\/span><\/a> in a recent statement. Even if the SEC plans to review Judge Analisa Torres\u2019s decisions from July, Ripple has <\/span>made it clear<\/span><\/a> that it has no plans to give up the fight. Recently, the president of Ripple, Monica Long, said that the blockchain payments business will see the SEC case through to the end.<\/span><\/p>\n

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Morgan\u2019s tweet draws attention to a perceived inconsistency in the treatment of court rulings and SEC statements. He suggests that a court ruling affirming XRP\u2019s status as not being a security should carry significant weight in the eyes of regulators. However, as per his online check, he points out that the list of cryptocurrencies sanctioned for custody and listing in the U.S. primarily comprises stablecoins, with <\/span>Bitcoin<\/span> and Ethereum being the notable exceptions.<\/span><\/p>\n

Uncertain Future for XRP and Cryptocurrency Regulation in US<\/strong><\/h2>\n

The implication is that despite the court ruling in favor of XRP, it might not mean that watchdogs will back down, especially now with the global regulatory status heating up with the US taking center stage.<\/span><\/p>\n

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As the lawsuit unfolds and the crypto community watches closely, the debate over the legal classification of digital assets as securities or commodities continues to be a critical issue for market participants, investors, and regulators alike. <\/span>
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<\/span>Read more:<\/span>US SEC Fails In Securing the Inspection of Binance US Software<\/span><\/a><\/p>\n

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\u2713 Share:<\/p>\n

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Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114<\/a> and reach out to him at sunil (at) coingape.com <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

In a recent statement on X(Formerly Twitter), pro-XRP lawyer Bill Morgan expressed his bewilderment at the contrasting weight given to court\u2019s ruling and SEC\u2019s statements regarding recent XRP ruling . Morgan\u2019s statement comes from ongoing litigation surrounding classification of XRP as a security in Ripple Vs SEC lawsuit.\u00a0 Court Or SEC, Who Has More Weight? […]<\/p>\n","protected":false},"author":2,"featured_media":158665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-158664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=158664"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158664\/revisions"}],"predecessor-version":[{"id":158670,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158664\/revisions\/158670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/158665"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=158664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=158664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=158664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}