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☆ U.S. will be ‘more pro-crypto’ after this election, no matter who wins, says Ripple CEO Garlinghouse
▼ + stars: | 2024-10-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Brad Garlinghouse, CEO of Ripple, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. Ripple Labs CEO Brad Garlinghouse has been skeptical of crypto regulation in the U.S., but he is feeling highly optimistic about the post-election environment around the corner. Ripple, a veteran company in crypto known in part for its close association with the XRP token, operates a global payments business with banks and financial institutions as its main customers. About 95% of its business takes place outside of the U.S., which Garlinghouse said is partly a reflection of the contentious environment in Washington. On Wednesday, Garlinghouse offered a piece of advice to fintech startups in this changing time: "Incorporate outside the United States."

Persons: Brad Garlinghouse, we've, Garlinghouse, … It's Organizations: Milken, Global Conference, Ripple, CNBC, DC, U.S . Securities, Exchange Commission Locations: Beverly Hills , California, U.S, Washington, United States

☆ Harris PAC's $1 million contribution from Ripple's Chris Larsen shows crypto industry warming to VP
▼ + stars: | 2024-10-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

In total, Larsen has given around $1.9 million to support Harris' campaign directly and through PACs, according to FEC data compiled by crypto market and blockchain analyst James Delmore and independently verified by CNBC. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a recent report from the nonprofit watchdog group Public Citizen. "What we've had to date has been almost like purposeful chaos by Gensler to kind of crush the domestic industry," Larsen said. Horowitz said that he and his wife, Felicia, "have known Vice President Harris for over 10 years and she has been a great friend to both of us during that time." On Monday, the Harris campaign unveiled its "Opportunity Agenda for Black Men" in a report.

Persons: Chris Larsen, Donald Trump's, Chris Larsen isn't, Ripple, Kamala Harris, Larsen, who's, Harris, he's, Biden, " Larsen, isn't, James Delmore, that's, Evelyn Hockstein, Andreessen Horowitz, Trump, keynoted, Josh Shapiro, John Deaton, Massachusetts Republican who's, Democratic Sen, Elizabeth Warren, Nancy Pelosi, Gary Gensler, Brad Garlinghouse, Marvin Ammori, Skybridge Capital's Anthony Scaramucci, Scaramucci, Warren, Ben Horowitz, Marc Andreessen, Horowitz, Felicia, Delmore Organizations: YouTube, White, CNBC, Biden, Democratic, Harris, Fund, Forbes, Public Citizen, U.S, Erie International Airport, Democratic Pennsylvania Gov, Massachusetts Republican, Nancy Pelosi Victory Fund, Biden PAC, SEC, Trump, Ripple, White House, Sen Locations: Bay, Erie , Pennsylvania, U.S, Nashville , Tennessee, Massachusetts, Washington ,, New York

☆ XRP slides 9% after SEC appeals decision in landmark Ripple case
▼ + stars: | 2024-10-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

XRP was last lower by more than 9% at 52 cents a coin, according to Coin Metrics. Ripple, the largest holder of XRP coins, scored a partial victory last summer after a three-year battle with the SEC. U.S. District Judge Analisa Torres handed down the decision, which was hailed as a landmark win for the crypto industry. Still, while XRP isn't considered a security when sold to retail investors on exchanges, it is considered an unregistered security offering if sold to institutional investors. XRP, which was created by the founders of Ripple, is the native token of the open source XRP Ledger, which Ripple uses in its cross-border payments business.

Persons: XRP, Analisa Torres, XRP isn't, Brad Garlinghouse, Stuart Alderoty, Alderoty, Gary Gensler, Garlinghouse Organizations: Securities and Exchange Commission, SEC, U.S, District, Bitwise Asset Management Locations: Paris, France, Delaware

☆ Crypto spending on 2024 election hits $190 million, led by Winklevoss twins
▼ + stars: | 2024-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.

Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX

☆ Crypto industry super PAC is 33-2 in primaries, with $100 million for House, Senate races
▼ + stars: | 2024-06-26 | by ( Emily Wilkins | ) www.cnbc.com time to read: +6 min

Yet crypto's Fairshake PAC also got into the race and spent $2 million to air an ad critical of Bowman. But it's not just money that the crypto industry plans to deploy this fall. Jordan Vonderhaar | Bloomberg | Getty ImagesThe effort is also meant to showcase a matured crypto industry. Meanwhile, Democratic incumbent Sen. Jon Tester told "Meet the Press" in 2022 that crypto did not "pass the smell test." Tester told reporters that he is keeping an open mind about several crypto bills before the Senate.

Persons: Jakub Porzycki, Jamaal Bowman, George Latimer, Israel, crypto's, Bowman, Fairshake, glided, John Curtis, Jamal Bowman, Evelyn Hockstein, Andreesen Horowitz, Coinbase, it's, Crypto, Brad Garlinghouse, Garlinghouse, Jordan Vonderhaar, Sam Bankman, Faryar Shirzad, Goldman Sachs, Sherrod Brown, Republican Bernie Moreno, Tim Sheehy, Sen, Jon Tester, Tester, Brett Kavanaugh, Kavanaugh, Mike Segar Organizations: Nurphoto, Getty Images WASHINGTON, Fairshake PAC, Westchester, Republicans, Democrats, Republican, United States Capitol, Reuters, CNBC, Bloomberg, Getty, White, Senate, Democratic, SEC, U.S Locations: Westchester County, Bowman's, Washington, Fairshake, Austin , Texas, Ohio, Montana

☆ Ripple launches new fund to drive blockchain innovation in Japan and South Korea
▼ + stars: | 2024-06-11 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Ripple cryptocurrency is seen in this illustration photo taken in Krakow, Poland on June 4, 2021. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images)Blockchain firm Ripple has launched a Japan and Korea fund, aimed at driving innovation on the XRP Ledger as it continues to expand its presence in Asia-Pacific. XRP is Ripple's native cryptocurrency which is powered by the XRP Ledger, an open-source, public blockchain built for corporations. The XRPL Japan and Korea Fund is part of Ripple's commitment to 1 billion XRP aimed at providing financial, technical, and business support for developers, which was announced in March 2022. "The launch of this fund is a testament to Ripple's strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation," said Emi Yoshikawa, vice president of strategic initiatives at Ripple, according to the statement.

Persons: Jakub Porzycki, Ripple, Emi Yoshikawa, Brad Garlinghouse Organizations: Getty, Korea Fund, CNBC Locations: Krakow, Poland, Japan, Korea, Asia, U.S

☆ Ripple CEO: Crypto industry in the U.S. dealing with 'hostile regulatory environment'
▼ + stars: | 2024-05-31 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRipple CEO: Crypto industry in the U.S. dealing with 'hostile regulatory environment'Ripple CEO Brad Garlinghouse sat down with CNBC Crypto World at Consensus 2024 to discuss crypto regulation. He also explains what prompted the blockchain firm to contribute another $25 million to the pro-crypto super PAC Fairshake.

Persons: Brad Garlinghouse Organizations: CNBC Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther soars 27% in May after SEC clears path for spot ether ETFs: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ripple CEO Brad Garlinghouse and Kraken's Chief Legal Officer Marco Santori discuss crypto regulation from Consensus 2024.

Persons: explainers, Brad Garlinghouse, Marco Santori Organizations: SEC, CNBC Crypto, CNBC

☆ Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024
▼ + stars: | 2024-04-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Mike Blake | ReutersThe CEO of blockchain startup Ripple sees the combined market capitalization of the cryptocurrency market topping $5 trillion this year. If the market were to double, that would imply a new total crypto market cap of $5.2 trillion. Bitcoin accounts for about 49% of the entire crypto market, with a market capitalization of $1.3 trillion as of April 1. This year being an election year, crypto hopefuls are optimistic that the next administration will be more accommodating to the crypto industry with its policy focus. Garlinghouse isnt the only crypto bull predicting outsized gains for the crypto market this year.

Persons: Brad Garlinghouse, Mike Blake, Ripple's Brad Garlinghouse, I've, Garlinghouse, Gary Gensler, Ripple, Marshall Beard, there's, Beard, Anthony Pompliano Organizations: Milken, Global Conference, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Beverly Hills , California, U.S, United States, London

☆ Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
▼ + stars: | 2024-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Jakub Porzycki | Nurphoto | Getty ImagesCrypto startup Ripple is the latest major player to jump into the $150 billion stablecoin market with the launch of a digital currency pegged to the U.S. dollar. The move would pit Ripple against stablecoin giants like Tether, which is behind the largest stablecoin UDST, and USDC issuer Circle. Payments giant PayPal , meanwhile, launched its own U.S. dollar stablecoin called PayPal USD, a stablecoin backed by U.S. dollars and dollar equivalents that is issued by crypto firm Paxos. watch nowTether is the market leader for stablecoins with a market capitalization of $106.3 billion, according to CoinGecko data. "In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on the XRP Ledger."

Persons: Jakub Porzycki, Brad Garlinghouse, he's, Garlinghouse, Tether's, USDT, USDC, MoneyGram Organizations: U.S, SEC, Nurphoto, Getty, U.S ., PayPal, CNBC, Bank, FinCEN, Santander, U.S . Securities, Exchange Commission, Southern, of Locations: U.S, Europe, Asia, New York, Ireland, Singapore, of New York

☆ Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon
▼ + stars: | 2024-01-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article XRP.CM= Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a "hostile" regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP , will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission ends. The Ripple CEO said his company has not gone public in the U.S. yet because of the SEC's actions. The SEC sued Coinbase last year alleging that the company was acting as an unregistered broker and exchange.

Persons: Brad Garlinghouse, Garlinghouse, Coinbase, Gary Gensler Organizations: CNBC, U.S . Securities, Exchange Commission, Economic, SEC, U.S Locations: DAVOS, Switzerland, Davos, U.S, United States

☆ Ripple CEO calls U.S. SEC Chair Gary Gensler a 'political liability' over lawsuit
▼ + stars: | 2024-01-16 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023. Ripple CEO Brad Garlinghouse fired off criticism at U.S. Securities and Exchange Commission Chairman Gary Gensler on Tuesday, calling the SEC chief a "political liability" amid an ongoing lawsuit. The crypto startup is fighting the SEC over allegations that the firm and its executives illegally sold XRP tokens in unregistered securities sales. A case against Garlinghouse and fellow executive Chris Larsen was dismissed in October. The SEC did not immediately respond to a CNBC request for comment.

Persons: Brad Garlinghouse, Gary Gensler, Garlinghouse, Chris Larsen Organizations: Ripple Labs Inc, U.S . Securities, Exchange, SEC, CNBC Locations: Singapore

☆ Ripple CEO says SEC has lost sight of mission to protect investors
▼ + stars: | 2023-11-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The CEO of blockchain company Ripple has some strong words for the U.S. Securities and Exchange Commission. Brad Garlinghouse told CNBC's Dan Murphy at the company's Ripple Swell conference in Dubai that he thinks the agency has lost sight of one of its key tasks as a regulator. "I think the SEC, in my opinion, has lost sight of their mission to protect investors. The SEC in 2020 accused Ripple and its executives of conducting a $1.3 billion securities fraud via sales of XRP to retail investors. Then, in October, the SEC dropped its securities law violation charges against Garlinghouse and Ripple executive Chris Larsen.

Persons: Brad Garlinghouse, CNBC's Dan Murphy, Garlinghouse, Ripple, Chris Larsen, Chris, Brad Organizations: U.S . Securities, Exchange Commission, SEC, CNBC Locations: Dubai, United States

☆ The SEC has lost sight of its mission to protect investors, Ripple CEO says
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe SEC has lost sight of its mission to protect investors, Ripple CEO saysBrad Garlinghouse, Ripple CEO, says the U.S. Securities and Exchange Commission "is doing the same thing over and over again, and they think, I guess, they're going to get a different outcome."

Persons: Brad Garlinghouse Organizations: SEC, Ripple, U.S . Securities, Exchange

☆ Ripple CEO Brad Garlinghouse at Ripple Swell Dubai | CNBC International
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRipple CEO Brad Garlinghouse at Ripple Swell Dubai | CNBC InternationalCNBC’s Dan Murphy speaks to Ripple CEO Brad Garlinghouse about the U.S. Securities and Exchange Commission case, the long-term impact of FTX's collapse, and what’s next for crypto markets.

Persons: Brad Garlinghouse, Dan Murphy, what’s Organizations: Ripple, Dubai, CNBC, U.S . Securities, Exchange Commission

☆ We need regulatory clarity, Ripple CEO says
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need regulatory clarity, Ripple CEO saysBrad Garlinghouse, Ripple CEO, says "macro, exponential forces [will] continue to catapult this industry."

Persons: Brad Garlinghouse

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXRP rises after SEC drops claims against Ripple Labs executives: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Stu Alderoty, chief legal officer at Ripple, discusses the SEC's decision to drop its lawsuit against two Ripple Labs executives, Brad Garlinghouse and Chris Larsen.

Persons: explainers, Stu Alderoty, Brad Garlinghouse, Chris Larsen Organizations: SEC, Ripple Labs, CNBC Crypto, CNBC

☆ SEC Retreats From High-Stakes Lawsuit Over XRP Cryptocurrency
▼ + stars: | 2023-10-19 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

Attendees visit the Ripple Labs booth at the Blockchain Week Summit in Paris in March. Photo: Benjamin Girette/Bloomberg NewsWASHINGTON—The Securities and Exchange Commission on Thursday said it would drop its lawsuit against two cryptocurrency executives who oversaw $1.5 billion in sales of a digital coin known as XRP, in a move that boosts the industry’s battle against traditional regulation. The dismissal of civil claims against Brad Garlinghouse and Chris Larsen , who were sued for assisting Ripple Labs’s sales, will likely encourage wealthy crypto defendants to fight regulators in court. At the same time, the SEC’s withdrawal from the case preserves its resources for bigger lawsuits it has filed against crypto giants Coinbase and Binance.

Persons: Benjamin Girette, Brad Garlinghouse, Chris Larsen Organizations: Bloomberg News WASHINGTON, The Securities, Exchange Commission, Ripple Locations: Paris

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. U.S. District Judge Analisa Torres in Manhattan granted Ripple a partial win in the case in July, finding that sales of XRP on public exchanges were not unregistered securities offerings. The SEC's claims against Garlinghouse and Larsen over their role in those sales were to be tried before a jury. Torres' July ruling against the SEC was a rare setback in the regulator's long-runnning crackdown on the industry.

Persons: Andrew Kelly, Brad Garlinghouse, Chris Larsen, Ripple, Analisa Torres, Torres, Garlinghouse, Larsen, Sam Bankman, Gary Gensler, Gensler, Jody Godoy, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, District, Binance, Industry, Thomson Locations: Washington ,, New York, . U.S, Manhattan, America, U.S

☆ US SEC cannot appeal Ripple Labs decision, judge rules
▼ + stars: | 2023-10-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. Torres said Rakoff had been considering Terraform’s motion to dismiss the SEC case, and was required to accept all reasonable inferences in the regulator’s favor. A trial in the Ripple case is scheduled for April 23, 2024. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Dado Ruvic, Analisa Torres, Torres, Jed Rakoff, Rakoff, Brad Garlinghouse, Chris Larsen, Ripple Organizations: YORK, U.S . Securities, Exchange Commission, Ripple Labs, REUTERS, District, SEC, U.S, Terra, Binance, Court, Southern District of Locations: Manhattan, U.S, Southern District, Southern District of New York

☆ Ripple obtains full license to operate in Singapore as it expands in Asia-Pacific
▼ + stars: | 2023-10-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023. Cryptocurrency company Ripple said on Wednesday that it has obtained a major payments institution license in Singapore, a strategic step toward growing its presence in the Asia-Pacific region. With the full license, Ripple will continue to provide regulated crypto payment services in Singapore. Ripple said it will continue to prioritize the region for adoption of its crypto payment services. The country's Payment Services Act — which regulates payment services and the provision of crypto services to the public — has been in effect since January 2020.

Persons: Brad Garlinghouse, Ripple, Monica Long, headcount Organizations: Ripple Labs Inc, Monetary Authority of, CNBC Locations: Singapore, Asia, Pacific, Monetary Authority of Singapore, U.S

☆ Ripple buys crypto infrastructure startup in its second acquisition of 2023
▼ + stars: | 2023-09-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Founded in 2021 by Scott Purcell, an entrepreneur with a background in equity and debt crowdfunding, Fortress Trust aims to help large enterprises interact with digital currencies. The company uses a blockchain-based messaging system, akin to SWIFT, to approve speedy transactions between a network of banks and other financial institutions. A Ripple spokesperson declined to comment on the size of the deal but said that it is less than the sum Ripple paid to buy Metaco. Ripple also obtained a Nevada trust with its acquisition of Fortress Trust, adding to its growing list of regulatory permits globally. The company told CNBC previously it was also looking to get an e-money license with the Irish central bank.

Persons: Brad Garlinghouse, Ripple, Scott Purcell, Purcell, BitGo, SWIFT, Britain's, Singapore's, XRP, Stu Alderoty Organizations: Trust, Prime Trust, SBI, U.S . Securities, Exchange Commission, MoneyGram, CNBC, Monetary Authority of, Fortress Trust Locations: Austin , Texas, Nevada, U.S, Swiss, Fortress Trust's, York, New York, Monetary Authority of Singapore, Irish

☆ Asia promotes crypto clarity amid regulatory uncertainty in the U.S.
▼ + stars: | 2023-08-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Earlier this month, Hong Kong officially opened crypto trading to retail investors and upgraded licenses of two exchanges. "This will further boost investor confidence, making Hong Kong more attractive as a potential global virtual asset hub," said Lai. He concluded some crypto firms could leave the U.S. for more progressive jurisdictions as a result. Asia's regulatory clarityAcross the Pacific, Singapore and Hong Kong offer far more operational clarity for many industry players "Singapore has the first mover advantage in the Asia Pacific region, including being ahead of Hong Kong. watch nowSingapore's Payment Services Act — a framework for regulating payment services and the provision of crypto services to the public — came into effect in January 2020.

Persons: Ben Charoenwong, Lennix Lai, Lai, Ong Chengyi, Chainalysis, Hong, Blockchain.com, Ripple, Hong Kong, Janice Goh, Coinbase, Binance, Brad Garlinghouse, Goh Organizations: Getty, Nurphoto, National University of Singapore Business School, Monetary Authority of, Cavenagh, U.S . Securities, Exchange Commission, SEC, CNBC, MAS Locations: Victoria Harbour, Hong Kong, China, Asia, U.S, Hong Kong . Hong Kong, Singapore, Monetary Authority of Singapore, Thailand, Indonesia, Hong, Pacific

REUTERS/Andrew Kelly/File PhotoNEW YORK, Aug 9 (Reuters) - The U.S. Securities and Exchange Commission plans to appeal a recent court decision involving Ripple Labs that was a setback for the agency's efforts to oversee cryptocurrency markets. The SEC said an appeal could address legal issues on which there was "substantial ground for differences of opinion." Torres' decision was not a total victory for Ripple, as she found that it violated securities laws by selling XRP to institutional investors. The judge must decide whether to let the SEC appeal her decision, and put the case on hold. Ripple, and lawyers for Ripple, Garlinghouse and Larsen did not immediately respond to requests for comment.

Persons: Andrew Kelly, Analisa Torres, Ripple, Brad Garlinghouse, Chris Larsen, Torres, Jed Rakoff, Larsen, Gary Gensler, Coinbase, Jonathan Stempel, Chris Prentice, Jody Godoy, Chris Reese, Lisa Shumaker, Diane Craft Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, U.S, District, Terra, Terraform Labs, Thomson Locations: Washington ,, Manhattan, U.S, Gensler, New York

In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Ripple's XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator efforts to stamp out digital asset trading. All four tokens were recently singled out as securities in the U.S. Securities and Exchange Commission's formal suits against popular crypto retail trading exchanges, including Binance and Coinbase . But the Thursday summary judgement from U.S. District Judge Analisa Torres calls that classification into question. Ripple maintained that its token is not a security — triggering ongoing confusion over which digital coins fall into which regulatory bucket.

Persons: Ripple's, Algorand's, Analisa Torres, Brad Garlinghouse, Renato Mariotti, Bryan Cave Leighton Organizations: U.S . Securities, Exchange, District, SEC, Labs, San, U.S . Southern, of New, U.S . Justice Department's Securities, Commodities Locations: Paris, France, San Francisco, U.S, of New York, Chicago

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