The Securities and Exchange Commission (SEC) signaled on Wednesday that America’s financial watchdog plans to appeal a court’s recent decision that found the cryptocurrency XRP is not necessarily a security on its face.

“The SEC seeks to certify the Court’s holding that Defendants’ ‘Programmatic’ offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s ‘Other Distributions’ in exchange for labor and services did not involve the offer or sale of securities,” the SEC said in a court filing. “Interlocutory review is warranted here.”

An interlocutory appeal is an appeal that asks an appellate court to review decisions that take place while a case is still ongoing. The SEC said an appellate review is warranted, as a number of SEC actions may be impacted by how issues raised in a review are resolved.

XRP edged down after the filing. The coin was down around 1% after the filing to around $0.63, as of this writing, according to CoinGecko. Still, XRP was up 33% over the past month.

The SEC’s move to telegraph a regulatory riposte comes after Judge Analisa Torres

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Author: André Beganski

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