TL;DR
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Yesterday, the SEC signaled that they plan to appeal a court’s recent decision that found the cryptocurrency, XRP, is not a security.
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The SEC wants the decisions made so far in the case to be reviewed, even before the case has officially ended.
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Why? Because this case is a huge deal (hence the bold, underline, italic) for the SEC and the future of crypto.
Full Story
We said we’d keep you informed as things played out with the SEC vs. Ripple case, and we plan to do just that.
So here’s the latest:
Yesterday, the SEC signaled that they plan to appeal a court’s recent decision that found the cryptocurrency, XRP, is not a security.
In their court filing, they stated that: “Interlocutory review is warranted here.”
Wtf is ‘interlocutory’? Good question.
An ‘interlocutory’ appeal asks the Court of Appeal to review decisions that take place while a case is still ongoing.
In other words, the SEC wants the decisions made so far in the case to be reviewed, even before the case has officially ended.
Why? Because this case is a huge deal (hence the bold, underline, italic) for the SEC and the future of crypto.
Set a legal precedent like this and suddenly it makes all future ‘commodity vs. security’ cases much harder for the SEC to win.
If we may be so bold: it creates a ‘Ripple Effect.’
So there it is.
The latest in the SEC vs. Ripple Labs case.
