U.S. SEC Submits 20-Page Response in XRP Legal Appeal

• The SEC’s appeal seeks to pause the entire case.
• Last month, the SEC sought authorization to appeal Judge Analisa Torres’ ruling.

In its effort to certify its interlocutory appeal in the XRP lawsuit, the U.S. SEC released a 20-page legal memorandum yesterday.

The SEC aims to maintain its position by appealing the questions raised in the lawsuit, arguing that it has a vested interest in resolving the issue, while Ripple is attempting to prolong the case to continue selling XRP.

The SEC’s appeal requests a suspension of the entire case to save the time and resources of the Court and the involved parties.

Ongoing Legal Pursuit

The SEC asserts that Ripple, the Defendants, did not cite any opinions regarding Howey in which a court determined that the interlocutory order lacked a legal question. The regulatory agency further claims that Ripple is mistakenly stating that the ruling was based on established facts concerning the marketing and sale of XRP.

Last week, Ripple argued that the SEC had not established a compelling case to justify an appeal; however, Friday’s filing strongly contested this. The SEC sought permission to appeal Judge Analisa Torres’ ruling last month in U.S. District Court.

The court considered the SEC’s arguments and allowed Ripple until September 1 to respond. The submission on Friday is a response to the opposition document submitted by Ripple. If Judge Torres approves the SEC’s request, the regulatory body will need to present its case before the Second Circuit Court of Appeals.

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