Ripple Files Form C Document Challenging SEC's Definition of XRP as a Security
On October 25, Ripple Labs filed a Form C document, a pretrial statement of claim in a civil appeal, in its ongoing legal dispute with the U.S. SEC.
In the Form C filing, a pretrial statement of civil appeal, Ripple asked the Court of Appeals to reexamine the application of the law under a “de novo” standard, focusing primarily on the Southern District of New York's ruling on the Howey test for Ripple's XRP transfer application and the SEC's unfair notice of Ripple's conduct. Ripple's conduct on the issue of unfair notice.
Ripple also seeks to reassess the “essential elements” of the transaction's classification as an investment contract and the scope of the SEC's injunction against Ripple.
Ripple's chief legal officer said that XRP has been clarified as a non-security and has not been challenged by the SEC. (The Block)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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