Ripple Chief Legal Officer announced that his company has filed a cross-appeal in its lawsuit against the U.S. Securities and Exchange Commission (SEC). This marks a new twist in the legal battle that has been ongoing since December 2022.
Ripple filed a cross-appeal against the SEC!
Ripple’s Chief Legal Officer Stuart Alderoty announced that they have filed a cross-appeal against the US SEC. Ripple CLO stated that they took this step to ensure that “nothing is left on the table.” This includes the argument that an investment contract cannot exist without fundamental rights and obligations.
Ripple CLO stated that they have already said that they do not appeal the SEC’s decision that XRP is not a security. Therefore, their cross objection will not be limited to this issue. He added that this remains the law and an appeal on other issues does not change that. Meanwhile, Stuart Alderoty talked about how the US SEC unsuccessfully sought to early appeal Judge Analisa Torres’ decisions that Ripple’s sales of XRP and other distributions on exchanges were not securities. He added that the commission will likely appeal this decision again. However, he is confident they will lose again in both decisions. Ripple CLO concluded his words as follows:
We look forward to the federal appeals court finally driving a stake through the heart of Gensler’s misguided attack on our industry.
Company introduces crypto vaults for banks in major expansion move
cryptokoin.comAs you follow from , fintech giant Ripple has made a big move into the crypto custody space by announcing new services aimed at helping banks and financial technology businesses store digital assets on behalf of customers. Ripple will provide a number of opportunities for banking and fintech customers. These include allowing customers to hold and maintain digital tokens. It’s a budding business for Ripple under its recently formed Ripple Custody subsidiary, as part of a larger push into custody.
These features include pre-configured operational and policy settings. There is also integration with XRP Ledger, risk monitoring for anti-money laundering compliance. In addition, there is a new user interface that is easier to use and interact with. This move will allow Ripple to expand beyond its core payment settlement business. It also marks Ripple’s first major step to unify its custody solutions under a single brand, Ripple Custody, and compete with a number of rivals that currently offer products and services in this market, including Coinbase, Gemini, and Fireblocks.
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