NewsletterXRP Lawsuit: Ripple Response To US SEC Appeal Filing Next Week
XRP News: The US Securities and Exchange Commission (SEC) on Wednesday filed a letter outlining its basis for filing a motion for leave to file an interlocutory appeal. The appeal it wants to file is about the programmatic sales to XRP buyers over trading platforms and also distribution channels Ripple uses. The letter by the US SEC comes on the same day as Judge Analisa Torres’ pretrial scheduling order. Earlier, CoinGape reported that the SEC made clear its intention to appeal the recent XRP ruling by Judge Torres, amid much speculation.
Also Read: US CPI Data Release: How Will Bitcoin Price React?
Lawyers on both sides of the XRP Vs SEC lawsuit had a busy day on August 9, 2023, with two filings, one each from the agency and the Judge. The onus is now on how Ripple reacts to these developments.
Ripple Filing Response Next Week
Stuart Alderoty, the Chief Legal Officer at Ripple, clarified on the rights the agency have in terms of appealing the Summary Judgment. He said the agency is only seeking the court’s permission to file an appeal. In response, Ripple will file a letter to the court next week, Alderoty said. Importantly, the US SEC is not seeking to appeal against the decision of XRP being a security, it is rather on its losses on the programmatic and individual sale of the token.
“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.”
Meanwhile, the XRP price suffered a big drop with the news of the SEC’s filing to seek an interlocutory appeal. However, the Ripple response could likely boost the token next week.
Also Read: XRP Lawsuit: John Deaton Bets Against Summary Judgment Overturning
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Coinbase Ends $2B BVNK Acquisition Talks Amid Stablecoin Race
- Arthur Hayes Buys UNI as CryptoQuant CEO Says Supply Shock ‘Inevitable’ for Uniswap
- Grayscale Launches Options Trading For Solana ETF as SOL Funds Record 10 Consecutive Daily Net Inflows
- Firelight Confirms November Mainnet as Flare TVL Rises and Xaman Introduces Smart Accounts
- Cardano News: Wirex Partners EMURGO To Launch First Ever ADA Card
- Ethereum Price Outlook as Whales and Institutions Boost Holdings — Can ETH Reclaim $4K Before Year-End?
- Can Dogecoin Price Hold Above $0.17 Amid Weekly Surge?
- Chainlink Price Could Crash as 3 Risky Patterns Form Amid Whale Selling
- Cardano Price Could Reclaim $0.7 After Key Stakeholders Add $204M in ADA
- Uniswap Price Soars 21% on Fee Switch and Token Burn Proposal— Eyes $15 Target
- Bitcoin Price Eyes Bulls as Crypto Market Structure Bill Draft Finally Drops
