Ripple Labs has filed a reply in opposition to the Securities and Exchange Commission’s (SEC) request for an interlocutory appeal against Judge Torres’ ruling in favor of Ripple Labs. Ripple argued that the SEC does not have the right to an appeal as the “exceptional circumstances” required for it are absent. The SEC had argued that an appeal was necessary because it involved controlling questions of law and could affect its case against Terraform, Coinbase, and Binance. Ripple argued that the summary judgment does not present a controlling question of law to warrant an appeal. The SEC had also asked that Judge Torres’ ruling be stayed pending the determination of the appeal, which Ripple also asked that the court deny. If the appeal is approved, the main focus will be on Judge Torres’ ruling that Ripple’s programmatic sales and other distributions did not constitute an investment contract. This ruling could have a huge impact on the crypto industry going forward. Some experts expect that the SEC will again lose upon appeal as the court will have recourse to the evidence adduced in the lower court and will decide that the SEC did not provide enough proof to back its arguments.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Binance, Terraform, Coinbase, Ripple Labs, Securities and Exchange Commission (SEC)
Currencies	Ethereum, XRP, Bitcoin
Securities	None