The SEC has filed an appeal in the Ripple case.
The US Securities and Exchange Commission (SEC) is appealing the decision in the Ripple case. It was a matter of curiosity when the SEC would make this move after the decision of the case.
SEC appeals against Ripple decision
The Securities and Exchange Commission (SEC) has sent a letter to the Southern District Court of New York to seek permission for interim appeal in the Ripple Case. However, it was a question of whether the SEC would appeal after this decision.
The SEC said in a statement that it submitted a letter to the Southern District Court of New York to seek permission to file an interim appeal of the summary judgment in the Ripple Labs case.
The regulator is aiming for the court to confirm that defendants’ “Programmatic” offers and sales to XRP buyers via crypto-asset trading platforms, as well as Ripple’s “Other Distributions” in exchange for labor and services, do not include the offering or sale of securities under the Securities Act. The editorial letter also referred to the decision “WJ Howey Co., 328 US 293 (1946)”.
The SEC proposed to present its keynote briefing on August 18, two days after the defendants responded to the letter, to present a briefing schedule.
