Ripple Labs has filed a cross-appeal in the U.S. Court of Appeals for the Second Circuit, contesting elements of a key ruling in its legal battle with the SEC. This follows the SEC's own appeal, which targets aspects of a 2023 ruling that favorably interpreted Ripple's sales of XRP to retail investors as not violating U.S. securities laws. The case has drawn significant attention as it may shape the regulatory landscape for digital assets in the U.S. Ripple argues that the classification of its institutional XRP sales as unregistered securities offerings was erroneous. Additionally, Ripple claims the court overlooked the broader regulatory uncertainties regarding how securities laws apply to cryptocurrencies, citing a lack of fair notice for XRP's classification by the SEC. The judicial proceedings are expected to extend well into the next year, highlighting the ongoing tensions between cryptocurrency firms and regulatory authorities.

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