Wednesday, June 19, 2024
HomeCryptocurrencyCrypto Community Rejoices As XRP is Removed from the SEC Security Assets...

Crypto Community Rejoices As XRP is Removed from the SEC Security Assets List

A few weeks after the globally celebrated summary judgment that exonerated Ripple, the largest distributor of XRP, of most of the security charges levied against it by the United States Securities and Exchange Commission (SEC), a new list of SEC security assets recently emerged on CoinGecko, comprising a compilation of crypto assets deemed as securities by the SEC, in which XRP was a notable absentee.

In light of the new development, managing partner Deaton Law Firm and XRP advocate John Deaton took to Twitter to relay his excitement about the prospect of XRP no longer being included in SEC’s red list after more than two years of legal battle.

Deaton tweeted, “Today: Not on the list: XRP.”

In response to the new development, David Schwartz, Chief Technical Officer (CTO) at Ripple, also took to Twitter to express his thoughts.

In the tweet, Schwartz joked about the possibility of listing some unrealistic items that the SEC had previously made a move to regulate. These items include Warehouse receipts for whisky casks, Live beavers, and Orange grooves. 

Some Notable Cryptocurrencies Are Still Implicated By the SEC

Per CoinGecko, a renowned crypto authority and crypto price tracking site, the SEC still has 48 crypto projects answerable to the crypto regulatory firm for breaking perceived security laws. 

According to the recently released list on the crypto tracking platform, some of these prominent SEC-implicated crypto projects include Binance Coin (BNB), Cardano (ADA), Polygon (MATIC), Algorand (ALGO), Tron (TRX), The Sandbox (SAND), Toncoin (TON), Binance USD (BUSD), Decentraland (MANA), etc. 

SEC Moves To Appeal Lawsuit

It’s worth noting that the SEC has officially showcased its intention to appeal Judge Analisa Torres’s ruling that declared XRP as a digital currency.

In a second attempt to prove itself right, the SEC filed a letter with the Southern District of New York seeking leave for an interlocutory appeal of the summary judgment.

According to the SEC, the summary judgment has started to have negative impacts on its other similar security cases, which the XRP community sees as an unfounded excuse for an appeal.

<

Meanwhile, XRP’s price at press time appears to be changing hands between maximum and minimum prices of $0.639057 and $0.625353 respectively, in the past 24 hours, according to data obtained from CoinGecko.


Follow us on Twitter, Facebook, Telegram, and Google News

Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.
RELATED ARTICLES

Latest News & Articles