On October 3, U.S. District Judge Analisa Torres denied the Securities and Exchange Commission’s (SEC) interlocutory appeal of her July 13 decision. Judge Torres’ decision marked another public defeat for the SEC, and if you haven’t read about the case, check out our earlier article, “Ripple v. SEC — Respite for a Beleaguered Industry?”
The following editorial was written by guest authors Wyatt Noble and Michael Handelsman for Kelman.Law
Ripple’s battle with the SEC has captured headlines and stirred up debate since X was Twitter. Judge Torres’ initial decision was highly anticipated, and perhaps the most impactful part of her decision held that the sale of the XRP digital token on public exchanges did comply with federal securities laws because buyers had no reasonable expectation of profit based on Ripple’s efforts. But, the SEC is nothing if not persistent.
So What Is an Interlocutory Appeal?
An interlocutory appeal is an appeal that happens while other parts of a
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