‘XRP is not a security. Period’ — Crypto lawyers on Ripple’s case amid SEC appeal

As the United States Securities and Exchange Commission (SEC) seeks an interlocutory appeal in its case against Ripple Labs, lawyers working in the crypto space expressed confidence in Ripple’s case, with some underscoring that the XRP (

Tan said that, at the moment, the SEC is using the conclusion in the Terraform Labs case against the judge in the XRP case. The crypto lawyer said that the SEC argues that a higher court should “break the tie” among different conclusions. However, Tan believes the SEC should let the court process proceed normally. He explained:

“What the SEC should have done is to provide clearer guidance before taking anyone to court. Since Ripple and other parties decided to take the SEC to court to get this guidance, the SEC should let the court process proceed normally.” 

Meanwhile, Ripple’s chief legal officer Stuart Alderoty told the community to “stay tuned,” noting that Ripple will file its response with the court next week.

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