The US Securities and Exchange Commission (SEC) submitted its formal objection to the Ripple and XRP decision by Judge Analisa Torres yesterday evening. However, the objection, also known as File C, did not include the sale of XRP to small investors on exchanges.

It was considered a victory

As it will be remembered, in his decision in July last year, Judge Torres stated that XRP’s sales to small investors on exchanges did not fall into the status of securities, but similar sales to corporate firms fell into this status. The decision was perceived as ‘Ripple’s victory’ in the crypto world.

‘The decision was officially recognised’

Here, the SEC was certain to appeal the XRP decision sold to the small investor through exchanges, but this did not happen.

Stuart Alderoty, Ripple’s legal counsel, tweeted, ‘No surprise. The court’s decision that ‘XRP is not a security’ was not appealed. Thus, the decision was officially recognised. Wait for our objection,’ he said.

So what and which decisions did the SEC object to? According to the petition; Ripple’s company sales and personal sales of executives Brad Garlinghouse and Chris Larsen are claimed to be securities. In the petition of objection, it is stated that the court’s decision to the contrary should be changed.

Due to the decision that Ripple’s corporate sales violated securities laws, the company was fined $125 million.