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📌 SEC says its decision on Ripple’s victory over XRP doesn’t give weight to other cases.

Find out the latest developments in the cryptocurrency market. Ripple

– Find out the latest developments in the cryptocurrency market.

In its arguments against Coinbase’s appeal, the SEC questions the legal implications of the ruling in favor of Ripple.

The regulator argues that Ripple’s position that it failed to secure XRP sales continues to be disapproved by other courts.

One legal expert confirms that the court’s ruling in favor of Ripple could be a victory of sorts for the industry.

The U.S. Securities and Exchange Commission threw shade at Judge Analisa Torres’ ruling in the Ripple case, saying that “no court has followed this decision.” This criticism was part of the SEC’s argument against Coinbase’s request for a preliminary injunction.

In the context of SEC v. Ripple, Judge Torres ruled in July 2023 that the programmatic sale of XRP tokens through an exchange was not an offering of securities and therefore did not violate securities laws. This decision confirmed that XRP is not a security and that the sale of tokens on exchanges does not constitute an investment contract.

However, the SEC’s recent complaint against Coinbase alleges that the cryptocurrency exchange acted as an unregistered intermediary for “cryptoasset securities.” The SEC ruled that digital assets listed on Coinbase’s platform are securities and that sales through the platform are investment contracts and are considered investment contracts. This opinion directly contradicts Judge Torres’ ruling that tokens such as XRP sold on exchanges are not securities.

Now, in its latest statement in response to Coinbase’s appeal, the SEC noted that “no court has followed Ripple.” This statement suggests that other courts have not replicated the legal arguments and precedents established in the Ripple case, and are therefore inapplicable in the Coinbase case.

This statement suggests that the SEC considers the Ripple decision to be an exception to the rule and lacks legal force and validity.

Reacting to this development, Bill Morgan, a pro-XRP lawyer, suggested that unless other courts decide the SEC’s case against Ripple and the SEC wins other major cryptocurrency cases, Ripple’s software sales victory will stand alone.

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