Judge Approves SEC’s Request for Interlocutory Appeal in Ripple Case
Judge Analisa Torres has approved the SEC’s request to file an interlocutory appeal in the ongoing case against Ripple Labs. The SEC will be able to file their motion today, while Ripple has until September 1 to oppose the motion. If approved, all proceedings may be paused until the appeal is settled.
Key Points:
- The SEC has been granted permission to file an interlocutory appeal in the Ripple case.
- Ripple has until September 1 to oppose the SEC’s motion.
- The SEC may respond to Ripple’s opposition by September 8 if they have a reply to Ripple’s argument.
- Ripple’s Chief Legal Officer disagrees with the appeal request, stating there is no special reason for it.
- Brad Garlinghouse maintains that XRP is not considered a security and this point is not up for debate.
The court will ultimately decide whether to allow the appeal, but this development shows that the SEC is allowed to request it. The outcome of this appeal will have significant implications for the future of Ripple and the classification of XRP.
Hot Take:
The approval of the SEC’s request for an interlocutory appeal is a significant development in the Ripple case. It allows the SEC to make their case for XRP being classified as a security, despite Ripple’s insistence that it is not. This appeal could potentially affect the outcome of the entire case and has far-reaching implications for the crypto industry as a whole.
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