SEC Can Argue for Right to Appeal Groundbreaking XRP Ruling in Ripple Case, Judge Says

A national justice has fto the U.S. Securities and Exchange Commission (SEC) reason it tin entreaty against her ruling that Ripple didn’t interruption securities laws successful making XRP disposable to retail traders by putting it connected exchanges.

Judge Analisa Torres, of the U.S. District Court for the Southern District of New York, granted the petition for permission to record a question to record an interlocutory entreaty Thursday, giving the SEC until Friday to record the question itself. The SEC announced it was filing the entreaty past week, aft hinting it would bash truthful successful July.

Ripple has until Sept. 1 to record its effect to the motion, and the SEC tin reply by Sept. 8. Should the SEC triumph its motion, it tin past record the existent entreaty of the ruling.

A Ripple spokesperson didn't person an contiguous comment. An SEC spokesperson declined to comment.

Ripple Chief Legal Officer Stuart Alderoty previously said connected X, the level formerly known arsenic Twitter, that the institution opposed the request.

“There is nary bonzer condition present that would warrant departing from the regularisation requiring each issues arsenic to each parties to beryllium resolved earlier an appeal,” helium said.

The terms of XRP did not look to respond overmuch to the bid itself, though it is down astir 4% implicit the past 24 hours, according to CoinGecko.