The Securities and Exchange Commission (SEC) and Ripple Labs are engaged in a legal battle over the regulatory status of XRP. Last week, the SEC attempted to appeal a court decision allowing Ripple to use a “fair notice” defense. However, prominent lawyers have predicted the appeal’s inevitable rejection. Ripple’s chief counsel, James K. Filan, and Coinbase CLO Paul Grewal have both called the SEC’s bluff, arguing that the agency has yet to prove that waiting for a final verdict would cause “irreparable harm.”If the appeal is denied, the case will proceed to summary judgment, where the court will review evidence and arguments before allowing a trial. The background of this mess traces back to 2020, when the SEC declared that Ripple’s XRP sales violated securities laws. The agency alleged that over $1.3 billion worth of XRP was sold without proper registration and disclosures, and argued that XRP is more like an investment than a currency.Ripple maintains the opposite – that XRP works as a currency, not a security. The company also claims the agency should have warned about XRP’s status fairly. Experts say the final judgment could shape future crypto rules, and both sides are devoting massive resources to the case.The outcome of this case could clarify XRP’s future, as well as broader questions around coin regulations. Ripple and Coinbase seem confident the appeal will flop, and if they’re right, the SEC’s bluff has been called dramatically. However, if the appeal is rejected, some regulatory uncertainty remains. The US agency can still prove its case against Ripple’s defenses.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	James K. Filan, Paul Grewal
Companies	Securities and Exchange Commission, SEC, Coinbase, Ripple Labs, XRP
Currencies	Ethereum, XRP, Bitcoin
Securities	None