Ripple has objected to the SEC’s motion to file an interlocutory appeal challenging its partial victory. On the other hand, its XRP token has started the new month strongly, recording strong on-chain metrics.
In the September 1 filing, the financial technology company claimed that the SEC had failed to show the exceptional circumstances necessary for the court to approve its request for interlocutory appeal.
Ripple’s Objection
Ripple argued that the SEC failed to establish the three conditions required to certify an interlocutory appeal. The first condition is that the order should involve a pure or controlling question of law. However, the firm argued that the SEC does not meet this standard.
It noted that the court order in the SEC v. Ripple case was based on facts, and the court only applied the law to the facts before it. Therefore, the SEC attempted to divorce the facts from the ruling, so to get approval for its appeal is wrong. Ripple said it will rely on the same facts at the Second Circuit court.
“The Court did not rule that offers and sales over crypto asset trading platforms can never give rise to an investment contract. It found that Defendants’ Programmatic Sales were not sales of investment contracts on the facts of this case.”
On the SEC’s argument that the decision in the case could affect other pending litigations, Ripple also disagreed. I
Go to Source to See Full Article
Author: Oluwapelumi Adejumo
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
