US District Judge Analisa Torres has denied the Securities and Exchange Commission’s (SEC) request to appeal part of her recent decision in its lawsuit against Ripple Labs over its sales of the digital token XRP. In July, Judge Torres found that some of Ripple’s institutional sales of XRP were unregistered securities offerings in violation of federal law, but ruled that other XRP distributions by Ripple did not qualify as securities transactions. The SEC sought to appeal the latter part of Torres’ order, arguing that it set a dangerous precedent for applying securities laws to crypto assets. However, Torres rejected the SEC’s appeal bid, finding it did not meet the legal standard for an early appeal before trial. The rejection of the SEC’s motion to appeal is seen as a significant victory for Ripple, which has been fighting the lawsuit for several years. The lawsuit alleges that Ripple violated investor-protection laws by selling over $1.3 billion worth of XRP starting in 2013 without registering the offers and sales of XRP. The SEC has not yet commented on the ruling, and it is unclear whether it will seek to appeal the decision further. However, the rejection of the motion to appeal means that the case will now proceed to trial, which is scheduled for April next year. XRP is up 3% over the last 24 hours.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	SEC, Analisa Torres, Ripple Labs
Companies	XRP, Ripple Labs, Securities and Exchange Commission, CoinGecko
Currencies	XRP, Bitcoin, Ethereum
Securities	None