The post Ripple Vs SEC: Why Is the SEC Still Calling XRP a Security? appeared first on Coinpedia Fintech News
Despite a court ruling stating that XRP is not a security, the U.S. Securities and Exchange Commission (SEC) continues to insist that it is. This stance has sparked significant speculation as Ripple, the company behind XRP, files a cross-appeal against the SEC’s claims in the ongoing legal battle.
Bitnomial Sues SEC Over XRP Classification
The SEC’s refusal to accept the court’s ruling comes amid a lawsuit filed by Bitnomial, a major crypto derivatives exchange.
Bitnomial is taking a stand against the SEC’s classification of XRP futures as “security futures,” challenging the agency’s authority by asserting that XRP is already under the Commodity Futures Trading Commission’s (CFTC) regulation. This move highlights what many see as regulatory overreach by the SEC.
The agency’s stance raises red flags, with crypto enthusiasts questioning its motive
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