In its latest court filing, the legal team representing Ripple Labs – the company behind the XRP token – argued that the United States Securities and Exchange Commission (SEC) doesn’t have the grounds to request an appeal.
This comes as the SEC looks to dispute Ripple’s partial victory after Judge Annalisa Torres ruled – in July – that XRP doesn’t classify as a security when sold to retail investors.
In its interlocutory appeal, the commission stated that an appeal was merited “because they involved controlling questions of law as to which there are substantial grounds for difference of opinion.”
Ripple Calls For Denial Of SEC’s Request To Appeal Or Stay
On Friday, September 1, Ripple’s lawyers stated in a new filing to the US District Court for the Southern District of New York that the Securities and Exchange Commission’s appeal request is merely based on “dissatisfaction” with the court’s…
