Judge Torres has approved the U.S. Securities and Exchange Commission’s (SEC) request to file an interim appeal in the ongoing legal tussle involving Ripple.
This latest twist in the Ripple case sets the stage for heightened legal proceedings and underscores the complexity of the regulatory dispute.
The official document released by the court shed light on the decision-making process. The court meticulously reviewed the correspondence exchanged between the parties on August 9 and August 16, 2023.
In response to the SEC’s plea for permission to file an appeal, Judge Torres’s ruling is as follows:
- The SEC’s request to submit an interim appeal has been granted.
- The SEC is required to file its appeal by August 18, 2023.
- The SEC must furnish its response, if any, by September 8, 2023.
Judge Torres’s decision signifies the green light for the SEC to proceed with an interim appeal, marking a pivotal phase in the legal proceedings.
The SEC will be tasked with formulating a compelling argument to present before the Second Circuit.
Simultaneously, Ripple, the opposing party in the case, will also have the opportunity to respond and potentially file its own appeal against the appeal.
This layered legal process underscores the intricate nature of the regulatory dispute and hints at a prolonged battle on the horizon.
