XRP Legal Battle Continues: SEC Drops Bombshell in New Letter to Appeal
The SEC has taken a pivotal step by finally pursuing an appeal in response to a consequential XRP ruling made by Judge Analisa Torres last month.

The SEC has taken a pivotal step by finally pursuing an appeal in response to a consequential XRP ruling made by Judge Analisa Torres last month.
The SEC accused Quantstamp of offering its QSP tokens as an investment opportunity without registering the ICO as a securities offering. As part of the settlement, Quantstamp has established a "Fair Fund" to compensate investors who were affected by the unregistered ICO. The company will transfer its QSP token holdings to the administrator of the Fair Fund, where the tokens will be permanently disabled or destroyed.
According to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.
The case claimed that EmpiresX and its founders violated the registration and anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
If the regulator is successful in this case, it might have very negative repercussions for XRP, its investors, and the cryptocurrency sector as a whole.
The Ripple vs SEC case continues to produce encouraging signs of a favorable end for Ripple which in turn would boost XRP price action.
In the ongoing legal case between the SEC and Ripple Labs, the commission declared XRP as a security.
The U.S. Securities and Exchange Commission and Ripple Labs both filed motions for summary judgment.
As the case against Ripple rages on, the SEC wants to see certain “friends of the court” in support of Ripple be barred from providing legal aid to the defense.
The SEC approval obtained by BSTX does not involve encrypted transactions or any other form of use of blockchain technology.