Former US Securities and Exchange Commission (SEC) official Marc Fagel, Ripple 
$0.538745 In his case, he stated that the court decision regarding secondary sales of XRP could be appealed by the SEC. This statement follows a landmark court decision emphasizing that primary sales of XRP are not securities. Fagel hinted at the possibility of the SEC reconsidering secondary market sales.
Possibility of SEC Appeal
Marc Fagel stated that he may consider appealing the SEC’s decision on XRP secondary sales. In the Ripple case, although it was decided that primary sales of XRP were not securities, secondary sales were not included in this decision. Fagel said the SEC could target secondary sales by filling that gap.
Fagel used these words:
“Ripple decision does not prevent another institution from filing a lawsuit if it sells XRP as a security.”
This statement indicates that the SEC will continue its evaluation of whether XRP is a security.
Legal Challenges and Industry Reactions
Lawyer Bill Morgan questioned why Bitnomial XRP futures are considered security futures contracts. Morgan, SEC’s Ethereum (ETH) 
$2,447 He stated that there was inconsistency in regulatory practices due to the lack of a similar approach towards futures transactions.
Morgan,
“I cannot stand such arbitrary practices. Bitcoin of the crypto market
$62,753 and I’m not surprised it’s drifted so far towards Ethereum.”
This has raised concerns in the crypto industry about the SEC’s regulatory approach.
Ripple’s Legal Strategy
Ripple took strategic steps in its ongoing legal battle with the SEC and filed a cross-appeal. This appeal aims to go beyond the initial ruling that XRP is not a security and address the SEC’s broad allegations regarding XRP sales. The Bitnomial case argues that XRP futures should be regulated by the SEC rather than the Securities Commission (CFTC).
Bitnomial argues that XRP is not a security and therefore should not be subject to strict securities laws. These discussions will play an important role in determining the future legal status of XRP.
The SEC’s possible appeal over XRP secondary sales highlights continued uncertainty in crypto markets. Investors and companies need clearer guidance on how the SEC will classify and supervise crypto assets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
