District Court Judge Denies SEC's Appeal Motion in Ripple-XRP Case
Summary:
Judge Analisa Torres of the District Court has dismissed a motion from the U.S Securities and Exchange Commission (SEC) for an interlocutory appeal in relation to a Ripple case. The SEC failed to demonstrate substantial grounds for differences of opinion or controlling questions of law. Earlier, Torres partly favored Ripple, ruling that XRP token sales did not legally constitute a security. More details to follow.
Judge Analisa Torres of the District Court has tossed aside the motion for an interlocutory appeal put forth by the U.S Securities and Exchange Commission (SEC) in regards to a recent decision involving Ripple. In a court order issued on October 3rd, Judge Torres denied the appeal attempt by the SEC, as they failed to demonstrate there were influential legal queries or that there were noteworthy variations in perspective concerning the issue. "The motion from SEC for the certification of the interlocutory appeal has been dismissed, also their request for a stay has been deemed irrelevant," said Torres. On July 13, Torres had handed down a partial verdict favoring Ripple, establishing that the public sale of the token XRP (XRP) didn't align with the legal interpretation of a security. Details of this story are still emerging and will be updated as they arrive.
Published At
10/3/2023 11:28:26 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.