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Ripple Urges Court to Reject SEC's Appeal Plea

Updated: Sep 4, 2023

Ripple (XRP) token on crypto chart backdop

Ripple Labs responded to the Securities and Exchange Commission's appeal request in their ongoing dispute with Friday's filing. The crypto company contends that the SEC's case lacks the necessary legal grounds to warrant the intervention of an appeals court.

The SEC is currently seeking approval from Judge Analisa Torres, presiding in the Southern District of New York, to appeal her previous ruling that Ripple's programmatic sales of XRP did not violate securities law.

If granted, the SEC must then convince the Second Circuit Court of Appeals to take up the case. Ripple's recent filing asserts that there are no significant legal questions at hand and that pursuing an appeal will not expedite the resolution of the entire case.

In the filing, Ripple emphasizes that the July ruling failed to present any pivotal legal issues and argues that the SEC has not substantiated the existence of conflicting judicial opinions or the potential for a speedier resolution through an appeal—requirements necessary for the judge to grant permission for such an action.


DISCLAIMER: This article is solely for informational purposes and not for financial, investment, or trading advice, and should not be relied upon for making decisions. Furthermore, has positions in the cryptocurrency mentioned in this article at the time of writing. For more see our full disclosure here.

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