The Securities and Exchange Commission said it will appeal a judge's controversial Ripple Bitcoin and Ether due to its centralized structure, the case hinges on one of the central debates for the sector: whether cryptocurrencies should be regulated as securities or as commodities.
The judge's ruling, which found that XRP by itself does not constitute a security and that sales of XRP were only securities sales when made to sophisticated investors, appeared to be an opening for the rest of the industry. The SEC currently has active lawsuits against major exchanges such as Coinbase and Binance for offering unregistered securities. Torres's ruling, however, indicated that such programmatic sales would be outside the jurisdiction of the SEC.
