The Securities and Exchange Commission filed a letter in federal court Wednesday announcing its intention to appeal a portion of a recent ruling that stated the regulator does not have the authority to regulate certain sales of Ripple’s cryptocurrency XRP XRPUSD, -3.32%.
U.S. District Judge Analisa Torres ruled last month that XRP is not a security when sold on digital-asset exchanges to the general public, a decision that was widely hailed by the crypto community and seen as a boon for crypto exchange Coinbase Global Inc. COIN, -4.20% in its ongoing legal battle with the SEC.
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