Ripple Labs has filed a cross-appeal in the U.S. Court of Appeals for the Second Circuit, contesting several elements of a key ruling in its legal battle with the Securities and Exchange Commission. 

The move comes a week after the SEC submitted its own appeal, targeting specific aspects of a 2023 court decision that partially favored Ripple in its sale of XRP to investors.

The appeals process, which is expected to continue well into next year, has already drawn significant attention due to its potential impact on the regulation of digital assets in the U.S.

“The Appeals Court reviews the record that has already been set and we have a great record,” Stuart Alderoty, Ripple’s chief legal officer, said in a Thursday statement on X.

“The SEC can’t submit new evidence or ask us to produce more. Meaning, there won’t be all the drama we had in the litigation when we fought over documents,” he added.

Ripple’s filing, dated Thursday, outlines four critical issues that the company plans to address. 

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Author: Sebastian Sinclair