SEC appeals decision that restricted its crypto oversight
By Jonathan Stempel
NEW YORK, Oct 2 (Reuters) -The U.S. Securities and Exchange Commission said on Wednesday it is appealing a court ruling that restricted its ability to regulate cryptocurrency markets.
Wall Street's main securities regulator will ask the 2nd U.S. Circuit Court of Appeals in Manhattan to review a July 2023 decision that the XRP token sold by Ripple Labs on public exchanges did not meet the legal definition of a security.
The decision by U.S. District Judge Analisa Torres meant the sales of the token, totaling about $757 million, were not subject to investor protection laws that the SEC enforces.
If the appeals court agreed, or defined securities narrowly, it could impede the SEC's ability to police the cryptocurrency exchange Coinbase COIN.O and other defendants selling or making markets for newer, non-traditional financial products.
Torres also gave the SEC a partial victory, saying another $728 million of XRP sales to institutional investors should have complied with securities laws.
She fined Ripple $125 million in August, but put the fine on hold pending an appeal. The SEC had sought $2 billion. Torres' stay would last until the 2nd Circuit ruled, court records show.
Lawyers for Ripple did not immediately respond to requests for comment on the SEC's notice of appeal, which was filed in Manhattan federal court. Ripple could also appeal parts of Torres' decisions that it disliked.
Reporting by Jonathan Stempel in New York
Editing by Bill Berkrot
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
