Ripple’s Chief Legal Officer, Stuart Alderoty, has stated that the ruling confirming that XRP is not a retail sales security remains unchanged despite the US SEC formally appealing the case. In the appeal, the SEC challenged several key rulings, including decisions that Ripple executives Brad Garlinghouse and Chris Larsen’s non-cash XRP distribution and sale did not violate securities laws. Ripple plans to file its own Form C next week as a cross-appeal against the institutional sales ruling. Both sides are preparing for an extended appeals process that could affect how digital assets are classified and regulated in the future. (BlockBeats news)
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