U.S. Securities and Exchange Commission Admits in New Court Filing that XRP Is Not a Security

Digital assets, like XRP, have been validated as not being securities by the SEC. Crypto enthusiasts discuss the SEC’s ruling that XRP is not securities.

The U.S. Securities and Exchange Commission (SEC) recently made headlines by officially reiterating digital assets, including XRP, are not securities. The announcement is part of the regulatory body’s appeal of the Ripple win.

In its recent move, the SEC said: “The SEC has said that it will not appeal a ruling that finds that the assets at issue are just worthless lines of code.”

Crypto enthusiasts, especially XRP supporters, have reacted positively to the SEC’s ruling that digital assets are not securities.

Over 75,000 XRP holders have joined the continuing litigation, which attorney John Deaton said in a tweet contributed to the SEC’s acknowledgment. Deaton stressed:

“It was a battle, but we succeeded in getting the court to rule that the token itself is not the security. It was the opening statement of our case in the Brief.”

Meanwhile, the U.S. government agency at the center of the ongoing legal battle with Ripple Labs made a major step forward.

Judge Analisa Torres, who is supervising the case, issued a ruling that the SEC’s request closely followed. The court granted the government agency’s request for permission to file an immediate appeal.

The SEC planned to focus its submission on Judge Torres’ decision regarding Ripple’s automated XRP sales and other distributions. On July 13, a U.S. court ruled that none of these deals constitutes security, so keep that in mind. Ripple has until September 1 to respond to the SEC’s motion, which it must file.

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