<\/p>\n
Ripple is pushing back on the U.S. Securities and Exchange Commission\u2019s (SEC) efforts to secure a certification for an immediate appeal on the recent landmark lawsuit ruling that went against the regulator.<\/span><\/p>\n Last month, Reuters reported<\/a> that the SEC sought the approval of Judge Analisa Torres to allow an appeals court to review her ruling<\/a> that Ripple\u2019s automated, open-market sales of XRP are not securities.<\/p>\n In a new court filing, lawyers for the San Francisco-based payments company <\/span>say<\/span><\/a> the exceptional requirements needed to warrant the approval of the regulator\u2019s certification request for an interlocutory appeal are not present.<\/span><\/p>\n \u201cFirst, the Court\u2019s summary judgment order does not present a controlling question of law suitable for interlocutory appeal. Second, the supposed substantial ground for disagreement is merely the SEC\u2019s dissatisfaction with the Court\u2019s application of Howey to most of [the] Defendants\u2019 transactions in XRP. And, third, the SEC concedes that protracted litigation is necessary regardless of whether its requested interlocutory appeal succeeds \u2013 meaning certification has no chance of hastening the end of this litigation.\u201d<\/span><\/i><\/p>\n Ripple CEO Brad Garlinghouse previously said<\/a> that the SEC lost on everything that matters following the court\u2019s July ruling that counters the agency\u2019s claim that virtually all crypto assets count as securities.<\/span><\/p>\n In a bid to prevent the potential reversal of the groundbreaking ruling, Ripple asks the court not to grant the SEC\u2019s request.\u00a0<\/span><\/p>\n \u201cThe Court should deny the SEC\u2019s motion for certification. The Court should also deny the SEC\u2019s request for a stay pending appeal for the reasons identified in the Individual Defendants\u2019 separately filed opposition.\u201d<\/span><\/i><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n