- Ripple Labs’ CTO, David Schwartz, has provided an update on the United States Securities and Exchange Commission’s (SEC) appeal.
- The SEC is seeking an appeal at this specific point in the case to ensure procedural efficiency and avoid disruptions due to multiple appeals.
- After Judge Analisa Torres ruled that XRP is not a security when sold on digital asset exchanges, the SEC submitted an appeal based on a new development within the legal proceedings.
- Schwartz emphasized the importance of combining appeals to improve the process and make it shorter.
- Ripple believes that the main lawsuit should proceed while the appeal process happens, rather than stopping the process until the appeal is settled.
- There have been rumors in the Bitcoin community about the SEC wanting to appeal Torres’ decision to higher courts.
- The outcome of the legal disagreement between Ripple Labs and the SEC depends on the court’s decision on whether to accept the appeal request.
Ripple CTO clarifies on SEC appeal, highlights case complexity
