SEC Seeks to Appeal Ruling in Ripple-XRP Case
The U.S. Securities and Exchange Commission (SEC) is seeking permission to file an interlocutory appeal to the judgment in the SEC v. Ripple case over XRP. They want to appeal the court’s holding that the offers and sales of XRP did not involve securities. The SEC claims that there are substantial differences of opinion on this matter. They also want to stay the district court proceedings.
Here are the key points:
– The SEC wants to appeal the court’s ruling on the classification of XRP as a security.
– They are requesting a stay of all other proceedings in the case.
– The SEC’s request for a stay does not affect the judge’s ruling.
– Ripple Labs has one week to respond to the SEC’s letter.
– Ripple’s chief legal officer stated that the SEC does not have the right to appeal yet.
In conclusion, the SEC is seeking to appeal the court’s ruling in the Ripple-XRP case. They are asking for a stay of the proceedings and have one week to respond to Ripple Labs. It remains to be seen how this case will unfold, but it is clear that both parties are determined to fight their respective positions.
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