- XRP enthusiasts criticize Bloomberg’s report on SEC’s appeal intentions.
- XRP community clarifies Judge Torres’ non-security ruling, contrary to Bloomberg’s report.
- SEC’s appeal motion intensifies Ripple-SEC legal dispute, triggering need for accurate reporting.
Members of the XRP community are expressing frustration with Bloomberg’s reporting on the SEC’s intentions to appeal Judge Torres’ decision regarding XRP’s non-security classification.
Specifically, Bloomberg Crypto featured a video segment with Sonali Basak. In particular, the video stated that the SEC is pursuing an interlocutory appeal challenging the court’s verdict that XRP is not a security. Correspondingly, this report triggered a wave of criticism from XRP enthusiasts.
XRP community members argue that the report misrepresented the situation. They emphasize that Judge Torres had indeed ruled XRP as non-security and that the SEC is not attempting to contest this status.
Prominent attorney John Deaton, who represented the XRP community in the SEC v. Ripple lawsuit, responded to the video. He offered to visit Bloomberg’s studio to clarify the nuances of the case for accurate reporting.
Accordingly, the SEC’s interlocutory appeal motion has sparked wider interest within the crypto community. The SEC seeks to review Judge Torres’ decision on XRP’s programmatic sales and distributions, asserting that substantial differences of opinion exist in her summary judgment logic. Additionally, the SEC acknowledges in its motion that XRP and other digital assets are not securities.
As the case progresses, the controversy surrounding the SEC’s intentions and Bloomberg’s reporting adds an additional layer of complexity to the ongoing legal battle between Ripple and the SEC.
The XRP community’s vigilance highlights the significance of accurate reporting in the crypto space and underscores the need for clear communication of legal developments that impact digital assets.
Presently, most XRP holders and crypto traders are regularly analyzing the market to predict the price of XRP. Many expect XRP to reach new market shattering all-time highs and encourage the community to stay strong.
