In recent developments regarding the XRP lawsuit, Judge Analisa Torres has given the green light for the U.S. Securities and Exchange Commission (SEC) to proceed with their appeal against Ripple Labs. It's important to note that this isn't an endorsement by Judge Torres of the SEC's stance but merely an approval for the case to continue.
Following closely on this, Ripple Labs, along with Brad Garlinghouse and Chris Larsen, had previously expressed their disagreement with the SEC's decision to appeal. They now have until September 1st to present their counter-arguments.
At the heart of this ongoing legal tussle is Judge Torres's prior decision concerning how XRP tokens were sold and distributed. Back in July, she determined that, while XRP's automated sales didn't match the criteria of the Howey test, the sales to institutions
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First found on: SEC Wins Request to Appeal, New Trial with XRP Underway?
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