Judge rejects SEC’s plea to appeal loss in the Ripple lawsuit

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Brad Garlinghouse; Photo Source: Ripple (Youtube)

Judge Analisa Torres, the district judge overseeing the SEC vs. Ripple case, has denied the SEC’s request to file an appeal after its monumental loss against Ripple Labs.

Earlier in July, Ripple scored a partial victory in its three-year-long lawsuit against the SEC when the court ruled that the sale of XRP tokens on crypto exchanges does not fit the criteria for security. Subsequently, the SEC sent a letter to Judge Torres, requesting her to put the case on hold as the outcome could impact the regulator’s lawsuits against other crypto firms.

In response, the judge rejected the SEC’s plea, citing she was unable to find “substantial ground” for the SEC’s difference of opinion with her findings, adding,

“The Court’s findings come from a direct application of Howey to the unique facts and circumstances of this case.” 



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She noted that the deadlines set as per the official scheduling order will remain in effect. Both Ripple and the SEC must submit all pre-trial findings by December 4. The court hearing to settle all remaining issues on the SEC vs. Ripple lawsuit is scheduled for April 23, 2024.

Shortly after the judge issued her response to the SEC's motion, Ripple's XRP token witnessed an uptick in its price. As of writing, XRP is valued at $0.54, up 5.3% over the last 24 hours.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Judge Analisa Torres, the district judge overseeing the SEC vs. Ripple case, has denied the SEC’s request to file an appeal after its monumental loss against Ripple Labs.

Earlier in July, Ripple scored a partial victory in its three-year-long lawsuit against the SEC when the court ruled that the sale of XRP tokens on crypto exchanges does not fit the criteria for security. Subsequently, the SEC sent a letter to Judge Torres, requesting her to put the case on hold as the outcome could impact the regulator’s lawsuits against other crypto firms.

In response, the judge rejected the SEC’s plea, citing she was unable to find “substantial ground” for the SEC’s difference of opinion with her findings, adding,

“The Court’s findings come from a direct application of Howey to the unique facts and circumstances of this case.” 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


She noted that the deadlines set as per the official scheduling order will remain in effect. Both Ripple and the SEC must submit all pre-trial findings by December 4. The court hearing to settle all remaining issues on the SEC vs. Ripple lawsuit is scheduled for April 23, 2024.

Shortly after the judge issued her response to the SEC's motion, Ripple's XRP token witnessed an uptick in its price. As of writing, XRP is valued at $0.54, up 5.3% over the last 24 hours.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande