Ripple opposed the SEC motion to try and appeal a federal judge's ruling in its case against the crypto company from July.
The U.S. Securities and Exchange Commission hasn't made enough of a case to warrant an appeals court intervention in its ongoing legal fight with Ripple, the crypto company argued in a new filing Friday.
The SEC is seeking a federal judge's approval to appeal her ruling finding that Ripple's programmatic sales of XRP did not violate securities law. If Judge Analisa Torres, of the Southern District of New York, signs off on the bid, the SEC will need to convince the Second Circuit Court of Appeals to take up the case. In, Ripple argued that there are no controlling law questions and that an appeal wouldn't lead to a faster resolution of the overall case.
July's ruling did not"present a controlling question of law," and neither did the SEC's motion for an appeal, Ripple said in Friday's filing, which added that the regulator hasn't proven that different judges might disagree with the ruling, or that an appeal would lead to a faster end for the court case – all of which are requirements for the judge to approve an appeal, according to the filing.
Judge Torres found in July that while Ripple violated federal securities laws in selling XRP to institutional investors, it had not done the same in making XRP available to retail investors by putting it on exchanges.
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