The US Securities and Exchange Commission (SEC) filed a motion with the US District Court in the Southern District of New York on Friday, asking for permission for an interlocutory appeal to Judge Analisa Torres's decision in the Ripple case on "Programmatic and Other Sales of $XRP". Previously, Judge Torres ruled that Ripple's programmatic sales of $XRP did not violate the securities law.
The SEC said that the ruling in the Ripple case could have a substantial impact on other pending litigation, such as the suits against Binance and Coinbase. It's worth noting that the SEC's argument focused on the sales of $XRP, instead of $XRP itself. "The SEC did not argue here or in Terraform that the asset underlying those investment contracts were necessarily a security," the SEC said in the filing.
Ripple has until September 1, 2023, to file its response to the SEC motion.
To learn more about the Ripple case, please visit: Ripple vs SEC
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