The U.S. Securities and Exchange Commission (SEC) just announced that a federal judge made a mistake in ruling against the institution in the landmark cryptocurrency case last week, signaling it will appeal the decision.
US District Judge Analisa Torres had sided with Ripple Labs that nearly half of its XRP sales did not violate investor protection laws. Torres_ verdict gave hope to other defendants fighting the SEC over sales of cryptocurrencies, which the SEC says are often illicitly sold securities.
Do Kwon, the jailed co-founder of crypto firm Terraform Labs, is one of the defendants trying to use Torres_ decision to defeat the SEC lawsuit. The agency charged Kwon with fraud and other legal violations in a complaint filed in Manhattan federal court in February.
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SEC Made a Statement About XRP and Terra!
The U.S. Securities and Exchange Commission (SEC) just announced that a federal judge made a mistake in ruling against the institution in the landmark cryptocurrency case last week, signaling it will appeal the decision.
US District Judge Analisa Torres had sided with Ripple Labs that nearly half of its XRP sales did not violate investor protection laws. Torres_ verdict gave hope to other defendants fighting the SEC over sales of cryptocurrencies, which the SEC says are often illicitly sold securities.
Do Kwon, the jailed co-founder of crypto firm Terraform Labs, is one of the defendants trying to use Torres_ decision to defeat the SEC lawsuit. The agency charged Kwon with fraud and other legal violations in a complaint filed in Manhattan federal court in February.