Ripple Labs has filed a cross-appeal as litigation continues from a lawsuit filed by the U.S. Securities and Exchange Commission nearly four years ago.
Ripple filed a “notice of cross-appeal” with the U.S. Court of Appeals for the Second Circuit on Thursday. This comes just a week after the SEC announced this. politics Previous ruling.
“Today, Ripple filed a cross-appeal to ensure that nothing is left, including the argument that there can be no ‘investment contract’ without the essential rights and obligations found in the contract,” Ripple CEO Stuart Alderoty said. legal officer mail At X.
In 2020, the SEC accused Ripple of raising $1.3 billion through sales. 
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The SEC has also previously moved to secure the security. intermediate appeal Last year, Judge Torres overruled it. Such appeals will be filed while the case is pending. Torres said his agency said. It failed to demonstrate that an appeal would “substantially hasten the ultimate conclusion of the litigation.”
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Sarah is a reporter for The Block covering policy, regulation and legal events. Previously, Sarah was a reporter covering securities regulation at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.