In an Oct.3 court order, the U.S. District Judge Analisa Torres has rejected the SEC's motion to appeal its loss against Ripple Labs, claiming that the regulator failed to meet its burden to show that there were controlling questions of law or that there were substantial grounds for differences of opinion on the matter.
In July, Judge Analisa Torres from the Southern District Court of New York ruled that Ripple's programmatic sales and other distributions of XRP did not constitute offers and sales of securities. In August, SEC appealed this decision, arguing that there was"substantial ground for differences of opinion" on the laws at hand.
Yesterday's decision isn't the final decision regarding this case, Judge Torres has scheduled a trail in April 2024 to address the remaining issues on the matter.
To learn more about the Ripple case, please visit: Ripple vs SEC
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Policy and Regulation