Sunday, 14 July 2024

Crypto News

SEC to seek interlocutory appeal in Ripple Case

SEC to seek interlocutory appeal in Ripple Case

The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’s July 13th summary judgment in its ongoing legal battle against Ripple Labs.

In the August 9 filing to the Southern District Court of New York, the securities regulator explained a they believe Judge Torre’s decision warrants a fresh look by an appellate court:

“Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed,” the SEC said.

The SEC added that a “timely appellate review’ is warranted given the number of actions currently pending that may be affected by how the Court of Appeals resolves the issues at hand.

The filing comes nearly a month after Ripple scored a partial victory over the regulator over the legal classification of XRP.

This is a developing story, and further information will be added as it becomes available.