Ripple filed its opposition today to the US Securities and Exchange Commission's (SEC) request last week to file an interlocutory appeal against the ruling on the programmatic sales of $XRP in the Ripple case.
According to Fox Business reporter Eleanor Terrett, Ripple pointed out that the evidence at the previous judgment "concluded that Ripple made no 'promises or offers' to purchasers in Programmatic Sales, hence not satisfying the 'investment contract' prong of the Howey Test". The company's opposition was based on the following grounds:
- The Court's Order Does Not Involve a Controlling Question of Law
- The SEC Cannot Show a Substantial Ground for Difference of Opinion
- An Immediate Appeal Will Not Advance the Termination of This Litigation
Brad Garlinghouse, CEO of Ripple, said on X, "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."
Related: US SEC to Appeal $XRP Ruling in Ripple Case
To learn more about the Ripple case, please visit: Ripple vs SEC
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