Ripple Labs Pushes Back Against SEC’s Request for Appeal in Ongoing Dispute
Ripple Labs has filed a new document in response to the Securities and Exchange Commission’s (SEC) request for an appeal in their ongoing legal battle. Here are the key points:
– Ripple’s lawyers argue that the exceptional circumstances needed for an interlocutory appeal are not present.
– The SEC is seeking to appeal part of a landmark decision from July that determined whether some of Ripple’s sales of XRP violated securities laws.
– Ripple’s lawyers claim that the SEC’s dissatisfaction with the court’s application of the Howey test is not substantial grounds for disagreement.
– The SEC wants to appeal the court’s decision regarding programmatic sales and “other distributions” of XRP.
– If the SEC is allowed to appeal, Ripple plans to cross-appeal the court’s order involving institutional sales of XRP.
The SEC’s request for an appeal could have significant implications not only for Ripple but also for other pending litigation involving crypto trading platforms. It remains to be seen how the court will handle this appeal and its potential impact on the broader crypto industry.
Hot Take
The legal battle between Ripple Labs and the SEC continues to unfold, with Ripple pushing back against the SEC’s request for an appeal. This latest development highlights the differing perspectives on the application of securities laws to cryptocurrency transactions. As the case progresses, the outcome could set an important precedent for future regulatory actions in the crypto space.
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