A judge allowed the SEC to file for the appeal.
The U.S. Securities and Exchange Commission asked for permission on Friday to appeal a federal judge's ruling that XRP sales through exchanges didn't violate securities law, a day after the judge said the SEC could present its argument.Judge Analisa Torres, of the U.S. District Court for the Southern District of New York, to certify for an interlocutory appeal a day after she allowed the request to be made.
"The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts.
In its filing, the SEC noted that its argument focused on the sales of XRP, rather than the asset itself. "The SEC did not argue here or in Terraform that the asset underlying those investment contracts were necessarily a security ," the filing said. Ripple has until Sept. 1, 2023 to file a response to the SEC's motion. The regulator will have another week to reply to the response after that. Should the SEC win Judge Torres' approval for interlocutory appeal, it will need to petition the Second Circuit Court of Appeals to take up the case.
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