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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'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's application of the Howey Test and its failure to provide clear guidance on what constitutes securities. The ruling challenges the SEC's classification of most digital assets as securities.</p>

Congressman Urges SEC to Reassess Crypto Regulations

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