{"id":588822,"date":"2024-10-18T12:18:02","date_gmt":"2024-10-18T12:18:02","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=588822"},"modified":"2024-10-18T12:18:02","modified_gmt":"2024-10-18T12:18:02","slug":"secs-latest-filing-does-not-appeal-courts-xrp-security-status-ruling-says-ripple-legal-chief","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/secs-latest-filing-does-not-appeal-courts-xrp-security-status-ruling-says-ripple-legal-chief","title":{"rendered":"SEC\u2019s Latest Filing Does Not Appeal Court\u2019s XRP Security Status Ruling, Says Ripple Legal Chief"},"content":{"rendered":"

Ripple chief legal officer Stuart Alderoty says the recent filing by the US Securities and Exchange Commission (SEC) in its case against Ripple Labs does not appeal the ruling that XRP is not a security.<\/span><\/p>\n

Alderoty’s comments follow an Oct. 16 Form C filing by the SEC with a pre-judgement statement against certain aspects of the court’s summary judgment. <\/span><\/p>\n

\"Huge<\/p>\n

Alderoty Says Court Decision Regarding XRP’s Security Status “Stands As The Law Of The Land”<\/span><\/h2>\n

Ripple defense attorney James Filan shared the <\/span>filing<\/span><\/a> on Oct. 17. In their appeal, the SEC asks the court to review its decisions related to Ripple’s XRP sales through exchange platforms. It also requests the court to review the ruling on the personal sales executed by Ripple executives Brad Garlinghouse and Chris <\/span>Larsen<\/span><\/a>.<\/span><\/p>\n

The SEC went on to argue that Larsen and Galinghouse violated securities laws by offering and selling XRP. It also said that they both “aided and abetted Ripple’s violations of those provisions.”<\/span><\/p>\n

Alderoty responded to the SEC’s request by saying that the court’s decision regarding XRP’s security status “stands as the law of the land.” He added that the fintech firm intends to file its own Form C next week.<\/span><\/p>\n

\n

No surprises here — once again it’s been made clear. The Court’s ruling that “XRP is not a security” is NOT being appealed. That decision stands as the law of the land.<\/p>\n

Stay tuned for Ripple’s Form C to be filed next week. https:\/\/t.co\/m9molUGSBv<\/a><\/p>\n

— Stuart Alderoty (@s_alderoty) October 18, 2024<\/a><\/p><\/blockquote>\n