TL;DR
The SEC appealed Judge Torres’s recent ruling, causing a sharp drop in the asset’s price.
The XRP community launched a petition against the SEC’s contend, but it lacks the legal power to stop the ongoing legal process.
The XRP Community is Not Pleased
The nearly four-year-old legal battle between Ripple and the US Securities and Exchange Commission (SEC) has seen numerous updates in the past few months. A key development was Judge Torres’s ruling in August, which determined that the sales of XRP on secondary markets to retail investors did not constitute securities transactions. However, she ordered Ripple to pay $125 million for violating certain securities laws.
The firm seemed satisfied with the decision, considering that the penalty represented a 94% reduction from the SEC’s initial request for $2 billion. That’s why many thought the Commission would appeal and, surely enough, it did.
The news was followed by a sharp price decline for the token and dissent fr
We współpracy z: https://cryptopotato.com/ripple-v-sec-lawsuit-update-october-8th/
