The Ripple vs SEC case just got more interesting! Better Markets, a nonprofit organization, has filed an amicus brief supporting the SEC's appeal against Ripple Labs. They argue that XRP, Ripple's cryptocurrency, meets the Howey Test standards and should be classified as a security.¹

The brief challenges the district court's 2023 ruling that exempted Ripple's retail XRP sales from securities laws. Better Markets claims that this decision creates a "two-tier system" that protects institutional investors but leaves retail investors vulnerable to fraud.²

The organization emphasizes that the method of acquiring digital assets doesn't change their fundamental nature as securities. They also warn that the district court's narrow interpretation of securities laws could embolden other cryptocurrency projects to exploit similar loopholes.

This development comes as the SEC appeals the district court's ruling, seeking to overturn the decision that XRP sales on exchanges are not securities. The case's outcome could have significant implications for how digital assets are classified under US securities laws.³

Some experts predict a potential settlement may be weeks away, especially with the recent changes in SEC leadership. Acting SEC Chair Mark Uyeda, known for his pro-crypto stance, has replaced Gary Gensler, raising hopes for a more collaborative approach to resolving the lawsuit.⁴#BTC $BTC #TrumpMarketInsights