Ripple submitted a filing on Aug. 16 expressing opposition to an interlocutory appeal expected from the U.S. Securities and Exchange Commission (SEC).
The SEC accused Ripple and two of its members in December 2020 of breaking security regulations through the sale of the XRP token. Ripple gained a summary judgment in that case on July 13, 2023 as the judge decided that programmatic or public exchange sales of XRP (and certain other distributions) were not securities offerings.
However, on Aug. 9, the SEC submitted a court filing in which it set out a basis for an interlocutory appeal that would contest the pro-Ripple ruling.
Ripple’s latest filing now aims to prevent such an event. The company argued that the SEC’s expected appeal deviates from its previous focus, writing:
“Having failed to meet its burden to present facts that would support stretching [the Howey test] to cover all of [Ripple’s] distributions of the digital asset XRP, the SEC now does an about-face and rushes to
We współpracy z: https://cryptoslate.com/ripple-files-opposition-to-secs-expected-appeal-regarding-exchange-sales/
