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International Business Times

Business

Marvie Basilan

'Big Mistake': Crypto Lawyers Weigh In On SEC Appealing $XRP Ruling In Ripple Lawsuit

SEC Ripple XRP Crypto Lawsuit Brad Garlinghouse Gary Gensler James Murphy

A federal judge ruled in 2023 that $XRP is not a security, and the SEC has moved to appeal the ruling. (Credit: Cryptocurrency.com/flickr)

KEY POINTS

Ripple's CEO said the company won't back down, saying the appeal won't change $XRP's status a non-security
Jeremy Hogan said the SEC was making a 'big mistake' and if anything, it may only get more money from the appeal
James Murphy expects an outpouring of amicus briefs backing Ripple in the legal battle

The U.S. Securities and Exchange Commission (SEC) has filed to appeal a court ruling in 2023 that determined crypto token XRP is not a security, and lawyers within the cryptocurrency space have shared their views on how the legal battle will come to play.

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