The securities regulator wants an appeals court to rule that XRP tokens sold to retail investors were unregistered securities, the latest in its years-long case against Ripple Labs.
The crypto lender made two claims, both of which were dismissed by Judge Dorsey for various reasons, including procedural shortcomings.
Ripple’s chief legal officer, Stuart Alderoty, emphasized that the SEC’s Form C doesn’t appeal the ruling that XRP is not a security.
XRP holders were on a high after the first XRP ETF application was filed, only to see hopes dim after the SEC’s Ripple appeal. The race is on between Solana and XRP to become the first US altcoin ETF.
The Appellate Court of Montenegro previously canceled Kwon’s extradition approval to either the United States or South Korea in mid-December 2023.