Ripple XRP Faces Legal Uncertainty Amidst Potential Regulatory Shift

Ripple legal battle with the SEC intensifies as federal judges scrutinize XRP security classification, raising concerns over its regulatory status.

Recent legal developments have cast uncertainty over the regulatory status of Ripple XRP cryptocurrency. Two federal judges are challenging a previous ruling that categorized XRP as a non-security on exchanges and a security for institutional sales. This decision is now under review in lawsuits involving major players like Coinbase and Terraform Labs.

The classification of XRP as a security hinges on the Howey Test, a legal framework used to determine if an asset qualifies as an investment contract and falls under securities regulations. However, the application of this test in the Ripple case is facing criticism, particularly from journalist Charles Gasparino, who has highlighted inconsistencies in the legal analysis.

Gasparino recent tweet on March 31 revealed that two federal judges, including Judge Rakoff, a respected figure in corporate-law judiciary, have raised questions about the arguments presented in the previous ruling. While it remains uncertain if the ruling will be overturned and XRP declared an unregistered security, the growing skepticism suggests potential legal challenges ahead for Ripple and its cryptocurrency.

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