Whether or not Ripple violated securities law in making XRP available to retail investors by putting it on crypto exchanges is absolutely a question that needs appeals court intervention, the U.S. Securities and Exchange Commission (SEC) argued Friday.
The SEC filed a response to a Ripple memo which argued the opposite as part of its ongoing case against the crypto company closely affiliated with the XRP cryptocurrency. While Ripple argued last week that the SEC hadn’t made a sufficient argument to warrant an appeal, Friday’s filing pushed back forcefully.
“The Defendants themselves say that the issues have industry-wide significance and are of special consequence,” the filing said.
Source: U.S. SEC Counters Ripple in Ongoing Effort to Appeal Groundbreaking XRP Ruling
