Ripple Labs Objects to SEC’s Interlocutory Appeal, XRP Holders Advised to Remain Calm
Ripple Labs has objected to the recent action by the U.S. securities regulator, the SEC, regarding the summary judgment issued by U.S. District Court Judge Analisa Torres. However, it is important for you, as a crypto reader, to understand the details of the SEC’s appeal and what the next steps in the legal process will be.
Key Points:
- Ripple attorney, Fred Rispoli, advises XRP holders to remain calm and not overreact to the recent filing.
- XRP is not considered a security and programmatic sales are not treated as security transactions.
- The SEC has filed a motion to seek permission for an interlocutory appeal, but they have not officially appealed yet.
- Appeals usually occur after a final order, which is not expected until the fall of 2024.
- The briefing schedule for the appeal is expected to be negotiated, with a decision from the judge projected around October.
Despite the ongoing legal proceedings, Fred Rispoli reassures XRP holders that the position of XRP remains favorable. He emphasizes that this is a normal part of the legal process and urges everyone to take a deep breath and move forward. He also highlights that everything is still in play and it is good news for XRP.
Hot Take:
The recent objection by Ripple Labs to the SEC’s interlocutory appeal indicates a strong defense against the allegations. With the reassurance from their attorney, XRP holders can have confidence that the legal process is progressing and that the outcome remains promising for the future of XRP.
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