Judge Torres' ruling on XRP's classification sparked discussions, especially about a potential SEC appeal.
Judge Torres' Ruling
Judge Torres ruled that XRP itself is not a security. The classification depends on specific contracts or arrangements. The secondary market is exempt from this classification, while institutional sales are considered securities due to explicit contracts.
Potential SEC Appeal
Attorney Jeremy Hogan states that the SEC will likely file an appeal by January 15th. He advises not to be overly concerned about this filing, noting that current SEC chair Gary Gensler may attempt a final move before his term ends on January 20th, although Hogan believes it will have little effect. Former SEC official Marc Fagel explains that the legal team is compelled to file unless there’s a drastic change in leadership.
Crypto Community's Reaction
Despite the possibility of last-minute actions from Gensler's team, the crypto community remains hopeful. The influence of pro-crypto figures in government and Congress fuels optimism for a more favorable regulatory landscape.
The fate of the SEC vs. Ripple case remains uncertain, but the community eagerly anticipates developments and hopes for positive change.
