Ripple, As part of its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). When applying for Form C found.
Ripple Challenges Howey Test Ruling in Ongoing SEC Appeal
The filing follows Ripple’s earlier decision by the Southern District of New York, which the court ruled Howey testini XRP’s institutional sales to the application outlining the grounds for challenging a decision.
Howey Test and Reconsideration of Legal Dispute
Ripple is asking the appeals court to conduct a “de novo” review, which would require a new review of how the law was applied in the original decision.
The company argues that the district court misapplied the Howey test, a legal standard used to determine whether a transaction qualifies as an investment contract and therefore a security.
Ripple specifically objects to its direct sales of XRP to institutional investors being classified as securities transactions.
In addition, Ripple claims that it failed to provide fair notice of the applicability of securities laws. The company says the SEC’s guidance is inconsistent and vague, making it impossible for Ripple to comply with regulations.
Ripple is also asking the appeals court to reconsider the key components required for a transaction to qualify as an investment contract and to reconsider the scope of the SEC’s injunction against the company.
Ripple’s Legal Officer Commented on the Appeal Process
Ripple’s Chief Legal Officer Stuart Alderoty emphasized that the appeals court will review existing legal records without new evidence from the SEC.
“The Court of Appeals is reviewing the records that have already been established… and we have a great record,” Alderoty said in a statement on X. “The SEC cannot present new evidence or ask us to produce more. “All the drama we experienced during the trial will not happen.”
Alderoty also emphasized that XRP has been laundered as a non-security asset in certain contexts, and this is a key element not challenged by the SEC at this stage of the appeal.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/ripple-sec-ile-olan-davasinda-yeni-bir-adim-atti-iste-detaylar/
