A US federal judge has denied the SEC's attempt to appeal a previous court decision favoring crypto company Ripple Labs.
SEC's Motion To Appeal Ripple Ruling Denied By Federal Judge
A US federal judge has denied the SEC's attempt to appeal a previous court decision favoring crypto company Ripple Labs. In her ruling, Judge Analisa Torres stated that the appeal failed to show that the decision was sufficiently faulty or problematic.
The SEC was hoping to get the decision reviewed by a federal appeals court before a final judgment next April. However, the SEC can still appeal after the trial concludes in April 2024.
The high-profile and longstanding Ripple case won a partial victory against the SEC in a ruling in July, after the court decided that XRP is not a security when sold to exchanges or as payments to employees. This casts doubt on the agency's stance that most cryptocurrencies are securities. XRP rallied over 90% following the judgment in July.
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