SEC Files Notice Of Appeal in Ripple XRP Case
The SEC has officially filed its notice of appeal in the Ripple XRP lawsuit, according to a new filing sent to a New York court Wednesday. In August a judge ordered Ripple to pay just over $125 million in civil penalties, officially ending the SEC’s lawsuit & concluding that XRP is not a security. The decision was a win for Ripple and all of the crypto industry. However, the SEC has finally decided to send out an appeal to the ruling after over a month of speculation, and just days before the deadline to do so. JUST IN: SEC files notice of appeal in the Ripple $XRP case. — Watcher.Guru (@WatcherGuru) October 2, 2024 The SEC is looking to overturn the rulings of the case by Judge Analisa Torres of New York. Judge Torres ultimately ruled that the programmatic sales of XRP and Ripple’s distribution of XRP tokens in exchange for labor and services are not securities offerings or sales. Correspondingly, the US regulator hopes to delay the pretrial proceedings and trial pending the re...