Trump’s SEC launching ‘crypto task force’ to develop clear regulations for industry
The U.S. Securities and Exchange Commission (SEC) has formally filed an appeal in its high-profile legal battle with Ripple Labs, seeking to overturn a July 2023 ruling that partially dismissed claims against the company. The appeal, submitted on January 15, 2025, focuses on whether Ripple’s sales of XRP to retail investors constitute unregistered securities under U.S. law. This case continues to be a defining moment for the cryptocurrency industry, as it could establish crucial legal precedents regarding the classification of digital assets. The SEC’s argument centers on XRP’s status as a security, claiming that Ripple’s sales to retail investors violated federal securities laws. The July 2023 ruling differentiated between institutional and retail sales, concluding that while Ripple’s direct sales to institutional investors might qualify as securities, its programmatic sales on secondary markets did not. The SEC’s appeal aims to challenge this distinction, arguing that all XRP sales f...
