As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency sector</a> is still on the edge of its seat, waiting for the judge to pass the final decision in the widely publicized <a href="https://finbold.com/ripple-v-sec-case-update-as-of-april-17-2023/" rel="noopener noreferrer nofollow">lawsuit</a> between <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a> and the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>), <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> uncertainty has already started to affect the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company’s business and its standing with the <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a> community.Indeed, Ripple’s newest product, Liquidity Hub (LH), lacks support for XRP, causing outrage among part of the XRP community. However, the blockchain company’s General Counsel, Stuart Alderoty, <a href="https://twitter.com/s_alderoty/status/1648026993819021318" rel="noopener noreferrer nofollow">explained</a> it was “an enterprise (institutional) product, not retail” and that regulatory clarity was important to enterprise customers.Having said that, Alderoty confirmed that, in the future, there might still be support for the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a>, stating that “we’re keen to support XRP in LH when we can provide a good customer experience.” Seemingly, the lawyer was hinting at the possibility of introducing XRP after the court decision in the Ripple v. SEC case brings more clarity into the sector.<h2 id="header-0">So what is security?</h2>Elsewhere, it has come to the public’s attention that the SEC has recently named six <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> assets as <a href="https://finbold.com/topic/securities/" rel="noopener noreferrer nofollow">securities</a>, including Dash (<a href="https://finbold.com/cryptocurrency/dash/" rel="noopener noreferrer nofollow">DASH</a>), Algorand (<a href="https://finbold.com/cryptocurrency/algorand/" rel="noopener noreferrer nofollow">ALGO</a>), OMG Network (<a href="https://finbold.com/cryptocurrency/omg-network/" rel="noopener noreferrer nofollow">OMG</a>), Monolith (<a href="https://finbold.com/cryptocurrency/monolith/" rel="noopener noreferrer nofollow">TKN</a>), NAGA (<a href="https://finbold.com/cryptocurrency/naga/" rel="noopener noreferrer nofollow">NGC</a>), and IHT Real Estate Protocol (<a href="https://finbold.com/cryptocurrency/iht-real-estate-protocol/" rel="noopener noreferrer nofollow">IHT</a>), in a lawsuit against <a href="https://finbold.com/guide/best-cryptocurrency-trading-platforms/" rel="noopener noreferrer nofollow">crypto exchange</a> Bittrex (but not against the issuers), according to the SEC <a href="https://www.sec.gov/news/press-release/2023-78" rel="noopener noreferrer nofollow">press release</a> from April 17.Specifically, the SEC alleges that these six digital assets listed on the <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> platform should be considered securities under US law because, as the agency claims, <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investors</a> had “reasonable expectation of profits.” Commenting on the development, David Schwartz, the CTO at Ripple, <a href="https://twitter.com/JoelKatz/status/1648072199163756552" rel="noopener noreferrer nofollow">said</a> on Twitter that this “sounds like <a href="https://finbold.com/topic/investing/" rel="noopener noreferrer nofollow">investment</a> advice to me.”Interestingly, the SEC boss Gary Gensler still <a href="https://finbold.com/sec-chief-gensler-grilled-by-us-committee-over-practices-in-crypto/" rel="noopener noreferrer nofollow">refuses to provide a clear answer</a> to the repeatedly asked question of whether Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) is a security, including during his recent testimony before the US House of Representatives Financial Services Committee, as <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> reported on April 19.Meanwhile, XRP was at press time changing hands at the price of $0.46, down 1.92% on the day, as well as declining 11.18% across the previous seven days but still holding on to the 8.47% increase to its price in the last month, according to the latest chart data.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Ripple v. SEC case update as of April 24, 2023

Table of Contents

Finbold

Other articles published on Apr 24, 2023

XEN token induces a 10-month ETH gas price high

Solana price analysis: SOL price moves down to $21.37 as bears take control

Bitcoin’s price volatility continues amidst U.S. debt ceiling uncertainty

Coinbase and Gemini Join Bid Race for Celsius Network’s Assets: Report

Navigating Canadian Crypto Tax Brackets 2024: The Ultimate Guide

Here’s the Critical Support for ETH Following a 14% Weekly Plunge (Ethereum Price Analysis)

Join our free newsletter for daily crypto updates!