The United States Securities and Exchange Commission (SEC) has filed a Notice of Appeal to challenge some aspects of Judge Analisa Torres’ July 13, 2023 ruling in the long-drawn Ripple lawsuit. This move ends the crypto industry speculation regarding the next course of action for the market regulator.
US SEC Appeals, What Next For Ripple Labs
The US SEC filed this Notice of Appeal of Judge Torres’ ruling five days before the October 7 deadline. After Judge Torres fined Ripple $125 million for selling XRP to institutional investors in August, many thought that would conclude the case.
This Appeal will further elongate the case as the US Court of Appeals forntghe Second Circuit will now analyze the merits of the previous ruling.
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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