币界网报道：Ripple has reaffirmed its stance that XRP is not a security, as the company continues its legal battle with the U.S. Securities and Exchange Commission (SEC). In a recent court filing, Ripple argued that XRP does not meet the criteria of an investment contract under the Howey Test, emphasizing its utility as a digital asset for cross-border payments rather than a speculative investment. The SEC, however, maintains that XRP should be classified as a security, alleging that Ripple conducted an unregistered securities offering by selling XRP to investors. The case, which began in December 2020, has significant implications for the broader cryptocurrency industry, as its outcome could set a precedent for how digital assets are regulated in the U.S. Ripple's CEO, Brad Garlinghouse, has criticized the SEC's approach, calling it "regulation by enforcement" and arguing that it stifles innovation. Meanwhile, XRP's price has shown volatility amid the ongoing legal uncertainty, with supporters closely watching developments. The court's decision could potentially clarify the regulatory status of other cryptocurrencies, impacting market dynamics and investor confidence. Ripple has also highlighted its global operations, noting that XRP is recognized as a non-security in jurisdictions like Japan and the U.K., underscoring the lack of regulatory consensus worldwide. The case is expected to proceed with further hearings in the coming months.