Ripple Counters SEC’s Appeal Effort Following Game-Changing XRP Decision
Ripple is resisting the U.S. Securities and Exchange Commission’s (SEC) attempts to secure immediate certification for an appeal regarding the recent significant lawsuit outcome.
In response to the SEC’s request for an appeals court review of the ruling that deemed Ripple’s XRP sales as non-securities, Ripple’s legal team argues that the prerequisites for such certification are not met. They contend that the court’s summary judgment order doesn’t pose a suitable legal question for an interlocutory appeal, and the SEC’s objection primarily stems from its disagreement with the court’s application of the Howey test to XRP transactions.
Moreover, Ripple highlights that the SEC acknowledges the inevitability of protracted litigation, making certification unlikely to expedite the case’s conclusion. Ripple seeks to uphold the groundbreaking ruling, asserting that the SEC’s appeal request should be denied.
Clever Robot News Desk 4th September 2023
