Ripple, the blockchain payment company, has won another legal battle against the Securities and Exchange Commission (SEC). Judge Analisa Torres has rejected the SEC’s motion to appeal the Ripple ruling, which was a partial victory for Ripple on July 13. The court ruled that the SEC failed to provide sufficient evidence to demonstrate that the “speculative motive derived from the entrepreneurial or managerial efforts of others” for the Programmatic Buyers who purchased XRP, Ripple’s native cryptocurrency. Judge Torres emphasized that granting an interlocutory appeal would only prolong the litigation process, potentially leading to multiple rounds of appellate review.

The trial is scheduled to begin on April 23, 2024 and the court has directed the parties to adhere to the previously set deadlines for pretrial filings. If Ripple wins the case, it could establish a precedent for the emerging industry as a whole, as it may shape the classification of digital assets as commodities and not securities. Following the disclosure of Judge Torres’ ruling, the cryptocurrency experienced a surge of 4.5%, indicating a renewed upward momentum and setting its sights on reclaiming the $0.6000 level.

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

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	8
People	SEC, Analisa Torres, Judge Torres, Ripple
Companies	Programmatic Buyers, XRP, US regulatory watchdog, Securities and Exchange Commission (SEC), Ripple
Currencies	XRP, Bitcoin, Ethereum
Securities	None