According to Stuart Alderoty, Chief Legal Officer at Ripple, the company is considering filing a cross-appeal in response to the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). This potential move follows Ripple’s partial victory in court, where it was ruled that XRP, the company’s cryptocurrency, is not a security when sold on secondary markets.
However, the SEC has not backed down and is appealing certain aspects of the case, aiming to challenge the court’s initial ruling. Ripple, in turn, may initiate a cross-appeal to address other key issues, seeking to strengthen its legal standing and push back against the regulatory body’s broader claims.
This development highlights the complexity and ongoing nature of the legal conflict between Ripple and the SEC, which could have far-reaching implications for the cryptocurrency industry as a whole. Stay tuned for more updates as this high-stakes case unfolds.
