SEC granted permission to file interlocutory appeal in Ripple case

Judge Analisa Torres has granted the U.S. Securities and Exchange Commission (SEC) the request to file an interlocutory appeal in its lawsuit against Ripple Labs. 

See related article: XRP’s partial victory as Russia inches toward CBDC; Arkham draws flak

Fast facts

• Interlocutory appeals occur before all claims related to all parties are resolved and are only allowed under specific circumstances.
• In this case, the SEC can file a motion by Aug. 18 to request permission to bring a case to the U.S. Court of Appeals for the Second Circuit. Ripple Labs can also file an opposition to the agency’s motion.
• Torres, a district judge of the U.S. District Court for the Southern District of New York who presides over the case, granted the SEC’s appeal approximately a month after Ripple’s partial victory in its lawsuit where she ruled that Ripple’s institutional XRP sales to violated securities laws, but public sales on exchanges did not.
• “The request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate/trial. But the SEC continues to claim that Chris and I acted recklessly in believing that XRP is not a security. That’s utter nonsense,” Brad Garlinghouse, the chief executive officer of Ripple Labs, tweeted on Thursday. 
• The SEC sued Ripple in December 2020, alleging that the company was offering an unregistered security.

See related article: Ripple gets in-principle approval for Singapore digital payment license

@media only screen and (min-width:0px) and (min-height:0px){div[id^=bsa-zone_1681981039491-9_123456]{min-width:300px;min-height:50px}}@media only screen and (min-width:640px) and (min-height:0px){div[id^=bsa-zone_1681981039491-9_123456]{min-width:300px;min-height:250px}}

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: https://forkast.news/headlines/sec-granted-permission-file-interlocutory-appeal-ripple-case/