SEC Unlikely to Appeal Ripple Ruling as XRP Surges Amid Legal Uncertainty

In a significant development for the cryptocurrency sector, the U.S. Securities and Exchange Commission (SEC) may not challenge the recent Ripple case ruling, according to insights from various experts. The SEC recently made its stance clear on the final judgment, revealing to Fox Business reporter Eleanor Terrett that the court had duly recognized the severity of Ripple's actions, particularly its repeated violations of securities laws. District Judge Analisa Torres noted the gravity of Ripple’s misconduct, leading to a substantial $125 million fine being imposed on the company.

The SEC emphasized that securities laws are applicable to all firms offering investment contracts, regardless of the technology or terminology used. However, it's worth noting that Judge Torres considerably slashed the civil penalties originally sought by the SEC, which had initially demanded a staggering $2 billion. While Ripple portrayed the judgment as a victory, especially given the SEC's reduced fine, Terrett pointed out that the outcome still represents a win for the regulatory body, as the fine imposed is far greater than the $10 million Ripple had hoped for.

Although it seems unlikely that the SEC will appeal the court’s recent order on remedies, the agency may still contest the July 2023 summary judgment that classified secondary XRP sales as non-securities. Amidst the ongoing legal uncertainties, XRP has seen a dramatic price surge. The ruling has catapulted XRP to become one of the most actively traded cryptocurrencies worldwide, with South Korea witnessing trading volumes that surpassed those of Bitcoin, Ethereum, and Solana combined.