Ripple vs SEC: Judge Denies Appeal Request and XRP Sees a 4% Price Increase
In the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC), there has been another small victory for Ripple. The US District Judge, Analisa Torres, has denied the SEC’s request for an appeal. The judge stated that the SEC failed to provide evidence of relevant legal issues or substantial grounds for a difference of opinion.
Ripple CEO, Brad Garlinghouse, took to Twitter to express his pride in the Ripple team’s achievement. He mentioned that just four months after receiving approval from the Monetary Authority of Singapore (MAS), Ripple Markets APAC Pte Ltd, a subsidiary of Ripple, has now obtained the Major Payments Institution license for digital payment token services in Singapore.
Hot Take: Ripple Continues to Make Progress in Legal Battle
This recent development in the Ripple vs SEC case is a positive outcome for Ripple. The denial of the SEC’s appeal request indicates that the judge does not see any significant legal issues or differences of opinion that need further examination. This decision could potentially weaken the SEC’s case against Ripple.
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