The U.S. Securities and Exchange Commission (SEC) is Getting Closer to Filing an Appeal in Ripple Lawsuit
The U.S. Securities and Exchange Commission (SEC) is taking steps to appeal the recent partial defeat in their lawsuit against Ripple. District Judge Analisa Torres has set a briefing schedule for the SEC to request an interlocutory appeal. This does not mean the appeal has been authorized, but it allows the SEC to request it. The SEC is required to file their motion by August 18th, Ripple should file its opposition papers by September 1st, and the SEC should file its reply by September 8th.
Main Breakdowns:
- The SEC is moving forward with an appeal in their lawsuit against Ripple.
- District Judge Analisa Torres has set a briefing schedule for the SEC to request an interlocutory appeal.
- The SEC has until August 18th to file their motion, Ripple has until September 1st to file its opposition papers, and the SEC has until September 8th to file its reply.
- After the judge’s order, XRP’s price dropped by more than 12%.
- The SEC sued Ripple for selling XRP as an unregistered security.
Hot Take:
The SEC’s appeal in the Ripple lawsuit shows their determination to hold Ripple accountable for their alleged securities offering. This ongoing legal battle continues to impact the price of XRP and the wider crypto markets. Crypto enthusiasts should closely follow the developments in this case as it could have significant implications for the crypto industry as a whole.
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