The Securities and Exchange Commission pushed back Friday against Ripple Labs’ efforts to block its appeal of a judge’s ruling that largely favored the cryptocurrency company in its legal fight with the regulator.

In the new court filing, the SEC argued that the summary judgment by U.S. District Judge Analisa Torres in July raised “precisely the kinds of ‘knotty legal problems'” that warrant interlocutory—or provisional—review by a federal appeals court under a law that allowed certain rulings to be appealed before a case concludes.

The SEC is seeking to challenge Torres’ findings that Ripple’s programmatic and institutional sales of the digital token XRP were not securities offerings requiring registration with the regulator. The judge ruled that only certain institutional sales Ripple made under investment contracts were unregistered securities trades.

“The crux of [Ripple’s] argument is that appeal under Section 1292(b) is not available because the issues for appeal require applying law to undisputed facts in the record and because an appeal would not terminate the litigation,” the SEC said. “Not so.”

The regulator argued that case law allows appeals courts to review district judges’ applications of legal tests like the one used to determine whether something is a security. It also rejected Ripple’s contention that a provisional appeal must completely end a case to be allowed.

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Author: Decrypt AI, Edited by Ryan Ozawa

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