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SEC Faces Another Setback in Grayscale Case as Court Deems Its Decision Unfair and Lacking Reasonable Basis

The SEC has suffered a setback in the Ripple lawsuit regarding the nature of XRP tokens. Additionally, the SEC may face another disappointing outcome in the Grayscale case. The D.C. Circuit has ruled that the SEC's decision to exclude certain stock volatility futures from certain regulations was unfair and lacked a reasonable basis. As a result, SPIKES Index Futures will now fall under "securities futures" rather than "futures," and market participants will have three months to adjust their transactions.

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