Ripple Gains a Victory as Judge Torres Rejects SEC’s Interlocutory Appeal

U.S. District Judge Analisa Torres rejected the Securities and Exchange Commission’s interlocutory entreaty successful the regulator’s suit against Ripple, noting the SEC failed to explicate wherefore her anterior determination was faulty. Torres acceptable a proceedings day for April 2024 to code the remaining issues.

SEC’s Appeal successful Ripple Lawsuit Denied by Judge Torres, Trial Set for April 2024

In a decision unveiled Tuesday, the justice astatine the helm of the SEC’s litigation against Ripple dismissed the regulator’s interlocutory appeal. The SEC had tendered a question to certify an interlocutory entreaty of 2 judgments pertaining to XRP successful the Ripple case.

“The SEC’s question for certification of interlocutory entreaty is denied, and the SEC’s petition for a enactment is denied arsenic moot,” Torres said successful her ruling. Torres explained that the SEC had failed successful demonstrating, wrong its appeal, that the determination was markedly faulty.

Rewinding to July, she decreed that Ripple’s Programmatic Sales of XRP “did not represent the connection and merchantability of concern contracts.” She further articulated that concerning Programmatic Sales, XRP “is not needfully a information connected its face.”

Conversely, Torres’ verdict posited that organization income could beryllium perceived arsenic information transactions. In the aftermath of the verdict connected Tuesday, XRP initially ascended by astir 6% post-announcement, though it has relinquished a tiny fraction of those gains since then.

What bash you deliberation astir Judge Torres’ decision? Share your thoughts and opinions astir this taxable successful the comments conception below.