NEW YORK :The U.S. Securities and Exchange Commission plans to appeal a recent court decision involving Ripple Labs that was a setback for the agency's efforts to oversee cryptocurrency markets.
It also said the outcome of an appeal had"particular consequence" for its ability to enforce securities laws, and for a"large number" of other lawsuits. Torres said Ripple did not break the law when the XRP token was sold on public exchanges, because purchasers had no reasonable expectation of profit based on Ripple's efforts.
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