SEC to request interlocutory appeal in Ripple case
SEC's interlocutory appeal comes nearly a month after Judge Analisa Torres issued her non-final ruling.
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The U.S. Securities and Exchange Commission is set to appeal a July court ruling in its lawsuit against Ripple Labs, which ruled that the sale of XRP (XRP) is not a security when sold to retail investors.
In an August 9 letter to Judge Analisa Torres, the chair of the case, the SEC said it believed its decision warranted reconsideration by an appellate court.
He asked Judge Torres to put the case on hold pending the appeal saying there are several other court cases pending that could be affected depending on the outcome of the appeal. The SEC is currently in a legal battle with a number of crypto firms, including Binance and Coinbase, over alleged securities violations.
“Interlocutory review is warranted here. Both of these issues involve the review of questions of law on which there is substantial ground for differences of opinion, as evidenced by an intra-district split that has already developed,” wrote the SEC.
The SEC added that 'she seeks to certify the court's decision that Ripple's programmatic XRP bids and sells on crypto exchanges and individual sells were not securities.
AND...the SEC continues to make questionable decisions, requesting an interlocutory appeal.
Note that it is NOT interesting whether XRP itself is a security – just its losses on programming and individual selling issues. https://t.co/GziVLp23mT
— Jérémy Hogan (@atto...
SEC's interlocutory appeal comes nearly a month after Judge Analisa Torres issued her non-final ruling.
Latest news
Join us on social networks
The U.S. Securities and Exchange Commission is set to appeal a July court ruling in its lawsuit against Ripple Labs, which ruled that the sale of XRP (XRP) is not a security when sold to retail investors.
In an August 9 letter to Judge Analisa Torres, the chair of the case, the SEC said it believed its decision warranted reconsideration by an appellate court.
He asked Judge Torres to put the case on hold pending the appeal saying there are several other court cases pending that could be affected depending on the outcome of the appeal. The SEC is currently in a legal battle with a number of crypto firms, including Binance and Coinbase, over alleged securities violations.
“Interlocutory review is warranted here. Both of these issues involve the review of questions of law on which there is substantial ground for differences of opinion, as evidenced by an intra-district split that has already developed,” wrote the SEC.
The SEC added that 'she seeks to certify the court's decision that Ripple's programmatic XRP bids and sells on crypto exchanges and individual sells were not securities.
AND...the SEC continues to make questionable decisions, requesting an interlocutory appeal.
Note that it is NOT interesting whether XRP itself is a security – just its losses on programming and individual selling issues. https://t.co/GziVLp23mT
— Jérémy Hogan (@atto...What's Your Reaction?
