Ripple Responds to SEC’s Motion
Ripple Labs has filed its response to the U.S. Securities and Exchange Commission’s (SEC) motion to certify an interlocutory appeal. Ripple argues that the court should deny the SEC’s motion and its request for a stay pending appeal.
- Ripple’s legal team asserts that the exceptional circumstances required for interlocutory appeal are absent.
- They claim that the court’s summary judgment order does not present a controlling question of law suitable for interlocutory appeal.
- Ripple’s lawyers argue that the SEC’s dissatisfaction with the court’s application of Howey to most of the defendants’ transactions in XRP is not a substantial ground for disagreement.
- They highlight that the SEC concedes that protracted litigation is necessary regardless of the appeal’s outcome.
- Ripple believes that the requested interlocutory appeal will not hasten the end of the litigation.
This week, the SEC also lost a legal battle against Grayscale Investments regarding the proposed bitcoin ETF conversion.
Hot Take
Ripple is pushing back against the SEC’s motion, arguing that the appeal is not warranted and that the litigation process will continue regardless. This response reflects Ripple’s determination to defend itself against the SEC’s allegations. The outcome of this legal battle will have significant implications for the crypto industry as a whole and could potentially shape the regulatory landscape for cryptocurrencies.
By
By
By
By
By