{"id":21827,"date":"2023-09-02T00:25:40","date_gmt":"2023-09-02T00:25:40","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ripple-legal-team-opposes-sec-appeal-over-xrp-decision\/"},"modified":"2023-09-02T00:25:42","modified_gmt":"2023-09-02T00:25:42","slug":"ripple-legal-team-opposes-sec-appeal-over-xrp-decision","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ripple-legal-team-opposes-sec-appeal-over-xrp-decision\/","title":{"rendered":"Ripple legal team opposes SEC appeal over XRP decision"},"content":{"rendered":"
Lawyers representing Ripple in its lawsuit with the United States Securities and Exchange Commission (SEC) have suggested the regulator hasn\u2019t met the requirements to request an appeal.<\/p>\n
In a Sept. 1 filing with U.S. District Court for the Southern District of New York, Ripple\u2019s legal team said the SEC\u2019s grounds for an appeal largely rested on \u201cdissatisfaction\u201d with a judge\u2019s decision that the XRP token did not qualify as a security for sales to retail investors. The lawyers said \u201cexceptional circumstances required for interlocutory appeal\u201d were absent in the case, and called on the judge to both deny any request for an appeal or stay.<\/p>\n
\u201cThe SEC has not even attempted to meet the standard for a stay, even after the Individual Defendants identified that omission in their pre-motion letter,\u201d said Ripple. \u201cThe Individual Defendants write separately to oppose the SEC\u2019s request. Ripple joins that opposition.\u201d<\/p>\n