The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and the cryptocurrency industry continues to heat up.
In a recent filing, the SEC plays down Coinbase’s request for an interlocutory appeal. This sheds light on the agency’s stance regarding the precedent set by a prior court case involving Ripple Labs.
Read Also: Ripple CEO: SEC Will Lose Against Ethereum (ETH) As They Lost Against XRP
Ripple vs. SEC: A Glimmer of Hope for Crypto?
In July 2023, a partial victory for Ripple Labs was achieved in its lawsuit with the SEC. Judge Analisa Torres ruled that programmatic sales of XRP on cryptocurrency exchanges did not constitute securities offerings.
This distinction is crucial because securities offerings fall under the SEC’s regulatory purview and require registration. The judge’s decision implied that XRP is not a security when sold through exchanges.
However, the SEC has taken a contrasting…
