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Ripple vs. SEC Update

This morning, Eleanor Terrett (Fox Business News) reported that a former SEC attorney who recently left the agency said that the SEC will “likely” appeal the ruling that XRP sales on exchanges are not securities. The SEC has until October 7 to file an appeal.

Note that we have not heard from any official sources, all of this is hearsay, and the SEC filing an appeal is risky because Judge Torres’ ruling is currently an isolated ruling, and other judges are not required to agree or follow it. However, if they appeal and lose, the ruling will be binding on all judges in the lower court.

In addition, Grayscale recently reopened the XRP Trust without waiting for the appeal date, so they may already know something.