Is the SEC seeking an appeal?

The US Securities and Exchange Commission (SEC) has indicated that it may appeal the recent ruling in its case against Ripple Labs. The judge in charge had ruled that XRP is not classified as a security when sold to retail investors.
The SEC argues that the ruling violates “fundamental principles of securities law” such as the Howey test, which determines what falls under the category of investment contracts and thus constitutes a security.
“Contrary to defendants’ assertions, much of the Ripple ruling supports the SEC’s view in this case and rejects the arguments raised by defendants. However, with respect to the sales in this action, the SEC respectfully points out that Ripple “contradicts Howey and adds unsubstantiated requirements,” as the SEC states, adding:
“With all due respect, these aspects of the Ripple litigation were wrongly decided, and this Court should therefore not follow them. The SEC staff is currently reviewing the various options for the remainder of the proceeding and is leaning toward recommending that the SEC appeal.”

After recent speculation about a possible appeal by the U.S. Securities and Exchange Commission in the case against Ripple and the supposed negative impact of this appeal on XRP have arisen, the lawyer John Deaton, who specializes in crypto, now counters that such a step probably poses no danger to XRP investors.
Although these may currently already rejoice that the sale of XRP to retail investors was not classified as an unlawful sale of securities by a U.S. court, the concern arose recently that an appeal by the SEC against this ruling could dissolve the important point win into thin air. However, Deaton, who as an attorney himself represents more than 75,000 XRP investors, believes this fear is unfounded.
“An appeal is not even close to a setback. We shouldn’t let anyone minimize how extraordinarily important this victory really is for XRP, investors and Ripple.”
Stuart Alderoty, Ripple’s chief legal officer, additionally states in an unrelated tweet that the Securities and Exchange Commission’s authority is limited only to trading securities. Thus, unless a cryptocurrency is classified as a security, the agency should no longer play any role in regulating it.

For the fourth consecutive quarter, Tesla has neither sold nor added to its remaining crypto assets. The influential electric vehicle manufacturer thus continues to hold $184 million worth of Bitcoin.
Accordingly, the automaker’s bitcoin assets in its Q2 2023 quarterly report, released yesterday, July 19, amount to a net value of $184 million, unchanged from the last two quarters.

Forge, a subsidiary of Société Générale, was the first company to receive the highest license to provide crypto services in the country. Société Générale is the third largest bank in France. This allows the company to hold digital assets, buy and sell them for legal tender, and trade them for each other. “This accreditation represents the highest level of regulatory certification currently available for digital asset transactions.”
Societe Generale is quite active in the crypto sector. The bank has launched Eurobonds on the Ethereum blockchain and securities tokens on the Tezos blockchain, and offers dai Stablecoin loans in exchange for bond tokens.