SEC snaps back against Ripple in push for an interlocutory appeal

Photo of author

By BitcoinWiki News

Key Takeaways:

– The SEC filed a motion with the US District Court in New York, asking for interlocutory appeal in the Ripple case.
– The SEC argued that this appeal would result in a more efficient resolution of the case.
– Ripple opposes the SEC’s request, stating that the court’s judgment is not suitable for appeal.
– The SEC cited other crypto cases, including Terraform, to support its argument.
– The SEC wants to appeal the part of the ruling regarding programmatic sales of XRP.
– Ripple argues that if the SEC is allowed to appeal, it may also seek to cross-appeal the court’s order on institutional sales of XRP.

SEC Appeals Ripple Ruling in XRP Case

The Securities and Exchange Commission (SEC) is seeking to appeal a ruling in the Ripple case, arguing that an interlocutory appeal would result in a more efficient resolution. Last month, a New York District Court judge ruled that some of Ripple’s XRP sales did not violate securities laws, but others did. The SEC wants to appeal the decision regarding programmatic sales and “other distributions” of XRP. Ripple opposes the appeal, stating that it does not present a controlling question of law suitable for interlocutory appeal. The SEC cited other crypto cases in its argument, including Terraform, where a judge rejected the idea that a Ripple Labs decision would invalidate the SEC’s case.

This is sponsored by: Learn Bitcoin Option

Leave a Comment