{"id":547982,"date":"2023-08-18T20:00:56","date_gmt":"2023-08-18T20:00:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=547982"},"modified":"2024-06-11T14:39:40","modified_gmt":"2024-06-11T14:39:40","slug":"xrp-pain-ripple-vs-sec-case","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/xrp-pain-ripple-vs-sec-case\/","title":{"rendered":"XRP Pain May Not Be Over Following This Decision In The Ripple Vs SEC Case"},"content":{"rendered":"
The United States Securities and Exchange Commission (SEC) has <\/span>reopened<\/span><\/a> old wounds after a federal Judge grants the regulator\u2019s request to file a new appeal against Ripple.\u00a0\u00a0<\/span><\/p>\n Ripple, the crypto firm behind XRP cryptocurrency, had secured a partial victory<\/a> in July in its case against the SEC that had raged on for almost three years. However, the regulator has not taken this lying down as on Thursday, August 17, Judge Analisa Torres reportedly gave official approval to the SEC\u2019s motion to file an interlocutory appeal<\/a> against XRP cryptocurrency.\u00a0<\/span><\/p>\n According to the court proceedings, the SEC will file its motion in court from Friday, August 18 until Friday, September 1. This gives the regulator the opportunity and ample time to develop and provide a compelling argument for its allegations of XRP being a security.\u00a0<\/span><\/p>\n This is because the appeal will be focused on the judge\u2019s decision on Ripple\u2019s programmatic sales and direct sales and offerings of XRP tokens as a trade for goods and services.\u00a0<\/span><\/p>\n The new filing<\/a> is not an official approval of an appeal by the judge but a gateway for the SEC to file its motion. But regardless, this new development could be bad for Ripple who recently celebrated Judge Torres\u2019 declaration that secondary sales of XRP did not count as a security.\u00a0<\/span><\/p>\n Ripple\u2019s Chief Executive Officer, Brad Garlinghouse, and Chief Learning Officer, Stuart Alderoty have addressed the SEC\u2019s decision to put forward an appeal motion. They publicly opposed the SEC\u2019s interlocutory appeal, detailing that the Judge\u2019s ruling on July 13 refutes any allegations the SEC may harbor of XRP being a security.\u00a0<\/span><\/p>\n \u201cWe oppose the SEC\u2019s request for an interlocutory appeal. There is no extraordinary circumstance here that would justify departing from the rule requiring all issues as to all parties to be resolved before an appeal,\u201d Alderoty stated in a Twitter <\/span>post<\/span><\/a>.\u00a0<\/span><\/p>\n On his part, CEO Brad Garlinghouse <\/span>commented<\/span><\/a>:\u00a0<\/span><\/p>\n Reminder – the request for appeal (even if granted) doesn\u2019t change the fact that XRP is not a security. That\u2019s 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\u2019s utter nonsense.<\/span><\/p><\/blockquote>\n <\/p>\n The SEC\u2019s move to file an interlocutory motion does not come as a surprise as the regulatory body has previously made complaints about the proceedings of Judge Torres’s ruling in the XRP case. The regulator made criticisms of the case\u2019s outcome by questioning the ruling\u2019s alignment with legal principles and stating<\/a> that the verdict was \u201cwrongly decided.\u201d<\/span><\/p>\nRipple And SEC Legal Battle Continues<\/h2>\n
XRP price dumps alongside crypto market | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
SEC Regulator Criticizes Judge Ruling<\/h2>\n