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 <h2 id="xrp-security-asset-or-not">XRP – Security Asset Or Not?</h2> 
 <p>Earlier, CoinGape reported the US SEC’s filing of motion for leave to file an interlocutory appeal in the lawsuit against Ripple, which dates back to the last quarter of 2020. In this context, CryptoLaw, a firm linked to popular attorney John Deaton, clarified the SEC’s position in the filing, as against the speculation that the token’s existing status as not being a <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> for retail sales.</p> 
 <h2 id="what-was-today-s-filing-about">What Was Today’s Filing About</h2>  
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 <p>The US agency has clearly mentioned in the latest filing that it “Does not seek appellate review of any holding relating to the fact that the underlying assets here are nothing but computer code with no inherent value.” Instead, the agency sought ” An immediate appeal of two rulings.” While one ruling was about <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> buyers not expecting profits out of the token investment, the other ruling is that investment in the token was ‘legally insufficient’ to constitute an “investment of money” as per the Howey Test.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Hey @ChrisDolmetsch – this story is false on very important facts you got wrong. Nothing in this brief is related to the <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> token not being a <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a>. It is entirely about the CHANCE to file an expedited appeal about specific OFFERS AND SALES by the DEFENDANTS of <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a>. Not the… https://t.co/V57OydsyHY</p>  
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  <p>— CryptoLaw (@CryptoLawUS) August 18, 2023</p> 
 </blockquote> 
 <p></p> 
 <p>In short, the SEC argued before the US District Court of the Southern District Court of New York that preponement of the appeal could effectively advance the final termination of the Summary Judgment.</p> 
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Fact Check: US SEC Is "Not" Appealing XRP's Non-security Status

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