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<h2 id="header-0">Legal Setback Prompts Call for SEC to Reconsider Cryptocurrency Rules</h2><p>Rep. Ritchie Torres (D-N.Y.) is urging the <strong><a href="https://www.coingabbar.com/en/crypto-currency-news/xrp-tokens-is-a-security-for-firms-not-for-the-public" rel="noopener noreferrer nofollow">Securities and Exchange Commission (SEC)</a></strong> to reconsider its regulatory actions on cryptocurrencies following a recent legal setback. In a letter to SEC Chairman Gary Gensler, Torres referenced a federal judge&#39;s ruling in the SEC suit against Ripple Labs, stating that crypto assets are not securities themselves but can be sold as part of investment contracts. Torres criticized the SEC&#39;s application of the Howey Test and its failure to provide clear guidance on what constitutes securities. The ruling challenges the SEC&#39;s classification of most digital assets as securities.</p>

Congressman Urges SEC to Reassess Crypto Regulations

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