The U.S. Securities and Exchange Commission (SEC) is considering appealing a landmark ruling in its lawsuit against Ripple, which declared that Ripple’s XRP cryptocurrency is not a security. This ruling set a precedent for the security status of cryptocurrencies. The SEC’s intent to appeal was revealed in a separate lawsuit against Do Kwon and his defunct Terraform Labs. The SEC asked the judge in Do Kwon’s case to reject the component of the Ripple ruling regarding XRP’s non-security status for retail sales and urged the judge to consider the stance on institutional sales of XRP, which were deemed securities.
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