Ripple Labs has filed a cross-appeal in the U.S. Court of Appeals for the Second Circuit challenging parts of a ruling from its legal battle with the SEC. This comes shortly after the SEC appealed aspects of a 2023 decision that partly favored Ripple, particularly regarding XRP sales to retail investors. Ripple's chief legal officer expressed confidence in the company’s case, asserting that the court misapplied the definition of an investment contract concerning the Securities Act. The SEC's appeal challenges the district court's partial findings that XRP sales were not securities violations, sparking significant attention about the future regulation of digital assets in the U.S. Central to Ripple's arguments is the claim that its institutional XRP sales were wrongly classified as unregistered securities offerings, which resulted in a hefty fine. The outcome of these appeals is expected to have significant implications for the regulatory landscape surrounding cryptocurrencies.

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