Sunday, September 3, 2023

"Ripple Says SEC ‘Rushing to Appeal’ Landmark Crypto Ruling"

Not just that.

From PYMNTS.com, Sept. 3:

Ripple wants to block the SEC from appealing a recent landmark crypto court ruling.

In July, U.S. District Judge Analisa Torres ruled that the blockchain company’s native XRP token is not a security when sold to the public. Last month, Torres gave the Securities and Exchange Commission (SEC) permission to appeal her ruling. 

But in a court filing Friday (Sept. 1), Ripple said the regulator is “now rushing to appeal what it claims is a purely ‘legal question’ applicable to every digital-asset case.”

As PYMNTS has written, Torres’s initial ruling was seen as a victory for the broader crypto sector and for Ripple in its long-running battle with the SEC.

“I have heard from hundreds of people throughout the industry, there’s just broad enthusiasm and excitement, this is the first time the SEC lost a crypto case,” Ripple CEO Brad Garlinghouse said in July. “The SEC has been a bully.”...

....MUCH MORE

As we saw at the Columbia Law School's CLS Blue Sky blog last week:
Coming Up In Crypto: "The Ripple and Terraform Cases Tee Up a Dramatic Showdown over Cryptocurrency Regulation"