SEC's Request to Appeal Ripple Case Loss Gets Rejected

4/10/2023

A federal judge has denied the U.S. Securities and Exchange Commission's (SEC) motion to appeal its loss against Ripple, the company behind XRP. XRP's price increased by about 5% following the decision. While the SEC's request for an appeal was denied, the judge set a trial date for April 2024 for other unresolved issues in the case. This decision comes after a previous ruling in July, where the judge determined that Ripple violated securities laws when selling XRP to institutional investors but not when making it available to retail customers through programmatic sales to exchanges. The SEC may still attempt to appeal the overall case in the future. Spokespeople for the SEC and Ripple have not commented on the decision.

Resource: https://www.coindesk.com/policy/2023/10/03/secs-motion-to-appeal-loss-in-ripple-case-is-denied/