US SEC may appeal XRP ruling, Kuwait bans crypto as FTX saga unfolds| Weekly recap
This week, the United States Securities and Exchange Commission (SEC) hinted at exploring other legal avenues after Judge Torres ruled that XRP is not a security. Meanwhile, the FTX saga had some surprising revelations. Despite this, regulatory efforts remained in the spotlight amid increasing crypto adoption. SEC may appeal the XRP court’s ruling Following Ripple’s win against the SEC, lawyer Marc Fargel expressed skepticism about the court’s ruling. In his view, the ruling could question the watchdog’s arguments on secondary market trading of assets, including crypto. He predicted possible appeal s from both parties, with the regulator having an advantage in overturning the ruling on “programmatic sales.” He noted that if the SEC does not appeal , it could affect the cases it has with other crypto -focused entities such as Binance and Coinbase. Following Judge Torres’ ruling, which declared XRP as not falling under the definition of a se...