More information has been revealed regarding the new SEC appeal. The US Securities and Exchange Commission announced on Wednesday that they will be filing an “interlocutory appeal” regarding Ripple’s (XRP) programmatic sales. However, Jeremy Hogan from the Hogan & Hogan law firm explained that the SEC appeal is not about proving whether XRP is a security. Instead, it will emphasise its losses on programmatic and individual sales issues. The continuation of XRP’s fight is not only for Ripple, but for other coins across the market as well, including Solana (SOL) and Big Eyes Coin (BIG). If XRP wins and redeems itself, it will be a shared victory for all the other coins.
New SEC Appeal: XRP’s Programmatic Sales
Hogan explained on Twitter that XRP has proven itself not a security, but now, it will march on to another battle with a different SEC appeal. He stated that the SEC is now emphasising the challenging programmatic sales of XRP, which is a separate issue from the asset’s non-security status. Perhaps the biggest challenge is that if the current SEC appeal wins the “programmatic sales” case, Ripple will not be able to use exchanges to facilitate sales.
With an interlocutory appeal, the SEC and the government will no longer need two trials. A trial is now scheduled on the programmatic sales issue, which Ripple has to respond to by August 16th, which is 7 days from the letter’s filing. All eyes are on this new case as this can decide the fate of other altcoins, such as Solana and Big Eyes Coin.
The SEC Sandwich: Solana Squeezed Between XRP Drama
When Ripple emerged as the winner of the SEC case regarding its non-security status, it sent Solana’s prediction price soaring by 16.5%. This is because if cryptocurrencies are not securities when sold on algorithms or exchanges, then it is legal for exchanges to sell them without violating the law. However, the newest SEC appeal regarding programmatic sales could very well affect Solana’s prediction price in the future. If what Hogan said is true, and the SEC appeal wins the battle regarding XRP’s programmatic sales, then Ripple cannot use exchanges to facilitate sales, which can also affect how other tokens like Solana and Big Eyes Coin conduct their sales on exchanges.
Big Eyes Coin Fears No FUD, Heads To Infinity & Beyond
While the new SEC appeal may be causing FUD (Fear, Uncertainty, Doubt) among crypto communities, Big Eyes Coin is not giving in. BIG is one of the best meme coins to buy in 2023, even in the midst of legal challenges and uncertainties. Why? It is fully decentralised and promotes DeFi, making it untouchable in the regulatory landscape.
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Legal Storm Rages On, But Cryptos Stand Strong
The SEC appeal may have been nerve-wracking as the world watches XRP go from one legal battle to another. Although it can greatly affect Solana’s prediction price as well as Big Eyes Coin’s presale, nothing can stop the DeFi world from pursuing its mission—to foster an open, transparent, and permissionless financial system. Therefore, XRP, Solana, and Big Eyes Coin remain to be three of the best investments you can buy to diversify your portfolio.
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