Ripple v. SEC Case Update: Securities Regulator Seeks Interlocutory Appeal
Ripple has achieved a major win in its court case against the SEC, with the judge ruling that the company’s sales of the XRP token were not securities sales. However, the SEC is not giving up and has filed a motion to certify an interlocutory appeal. The appeal focuses on two key parts of the judge’s summary judgment, which the SEC believes involve important legal questions. Ripple had previously opposed the anticipated motion for appeal, arguing that the SEC had no clear legal question to raise. Despite this, the judge approved the SEC’s request and set a briefing schedule. Interestingly, the SEC seems to accept that cryptocurrencies themselves are not securities. Meanwhile, the price of XRP has seen a decline in recent days.
Key points:
– Ripple wins court case as judge rules XRP sales were not securities sales
– SEC files motion to certify an interlocutory appeal
– Appeal focuses on two key parts of the judge’s summary judgment
– Ripple previously opposed the motion for appeal but the judge approved it
– SEC acknowledges that cryptocurrencies themselves are not securities
Hot Take: While Ripple may have won this battle, the SEC’s motion for an interlocutory appeal shows that the fight is not over. It will be interesting to see how this case progresses and what impact it may have on the classification of cryptocurrencies as securities. Regardless of the outcome, the price of XRP has been affected by the ongoing legal battle.
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