The US Securities and Exchange Commission (SEC) has signaled that it will appeal the decision of Ripple (XRP) in its ongoing lawsuit with Terraform Labs (LUNA).
Bloomberg’s 21 July According to the news published on the SEC, To Terraform Labs XRP decision in the lawsuit filed by securities by law do not overlap about the decision appeal stated that it can.
SEC’s statements Terraform lawyers by last week Ripple given in the case “XRP not counted as a security in some scenarios” his decision peer It was put forward on the efforts to present it as a decision. Terraform lawyers confirm Ripple decision reason driven by the SEC by presenting that the arguments are not legal He claimed. Lawyers, even though the two cases are separate, form of sale XRP decision because it is the same precedent can be taken stated.
On the other hand, the Regulator, in his filing, states that the relevant decisions are in the current securities law. not enough foundation expressing these decisions “wrong” described as. SEC lawyers litigation judge to Jed Rakoff used the following statements:
Sincerely, these parts of Ripple are misunderstood. The court should not follow them.
According to the SEC, the XRP decision that it does not want to be considered, individual and institutional investors investment prospects between artificial it creates a distinction. Used for decades to distinguish whether an asset is a security or not. Howey Test whereas subjective One to the standard it transforms. In this context, in the case of regulator Terraform, XRP to institutional investors the decision to sell to individual investors He also demanded that the sales be monitored.
SEC in February To Terraform Labs and founder Do to Kwon investors LUNA, TerraUSD (UST) And Anchor Protocol (ANC) enough about they did not inform on the grounds fraud, unregistered sale of securities He was sued on many charges such as