According to Bloomberg, the Securities and Exchange Commission (SEC) is set to release a public brief on Tuesday regarding its lawsuit against Ripple. The SEC sued Ripple in 2020, alleging that the company violated its rules by raising funds through the sale of the digital token XRP without registering it as a security. The outcome of this case is being closely monitored by the cryptocurrency community due to its potential implications for the SEC's jurisdiction.
In a development seen as a setback for the SEC's authority, a federal judge ruled in July that sales of XRP to retail investors on exchanges did not constitute investment contracts. Following this news, XRP's value increased by approximately 4% to 66 cents on Monday. The token has experienced a growth of around 6% this year.
