A court filing by the US Securities and Exchange Commission (SEC) on Wednesday showed that the regulator will file an interlocutory appeal against the ruling on the programmatic sales of $XRP in the Ripple case.
Last month, Judge Analisa Torres from the Southern District Court of New York ruled that Ripple's programmatic sales and other distributions of XRP did not constitute offers and sales of securities. The SEC said in the filing, "The SEC seeks to certify the Court's holding that Defendants' 'Programmatic' offers and sales to XRP buyers over crypto asset trading platforms and Ripple's 'Other Distributions' in exchange for labor and services did not involve the offer or sale of securities."
An interlocutory appeal is an appeal that asks an appellate court to review decisions that take place while a case is still ongoing. After the SEC filing was submitted, Ripple's chief legal officer Stuart Alderoty said on X, "The SEC does not have the 'right' to appeal just yet which is why they are asking permission to file an 'interlocutory' appeal. Ripple will file its response with the Court next week. Stay tuned."
To learn more about the Ripple case, please visit: Ripple vs SEC
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