According to BlockBeats, on October 20, Ripple Chief Legal Officer Stuart Alderoty said in a recent formal appeal of the Ripple case by the U.S. SEC that the ruling confirming that XRP is not a retail sales security remains unchanged. He wrote on X: "This is not surprising at all - once again, everything is clear. The court's ruling that 'XRP is not a security' has not been appealed. This decision is the law of the land."
In its appeal, the SEC challenged several key rulings, including the decision that Ripple executives Brad Garlinghouse and Chris Larsen’s cashless XRP distribution and sales did not violate securities laws.
Ripple plans to file its own Form C next week as a cross-appeal against the institutional sales ruling. Both sides are preparing for an extended appeal process that could affect how digital assets are classified and regulated in the future. (Bitcoin.com)
