SEC Tries to Appeal XRP Decision and Asks to Suspend Proceedings

Former SEC Director Called Vitalik Buterin Before His Speech

The U.S. Securities and Exchange Commission (SEC) has sent a letter to District Judge Analise Torres asking for permission to file an interlocutory appeal. in the SEC v. Ripple case regarding XRP. In addition, the securities regulator’s motion would “attempt to stay proceedings in the district court.”

The SEC is trying to appeal the decision in the case of Ripple- XRP

The U.S. Securities and Exchange Commission (SEC) sent District Judge Analise Torres letter requesting leave to file an interlocutory appeal against her solution in the SEC v. Ripple case regarding XRP. An appeal is considered interlocutory if it is filed before all claims have been resolved by all parties. The letter says:

Specifically, the SEC seeks to uphold the court’s ruling that “software” offerings and sales by defendants to buyers XRP through cryptoasset trading platforms and Ripple’s “other distributions” in exchange for labor and services did not include the offer or sale of securities under SEC v. W. J. Howey Co., 328 U.S. 293 (1946).

“This requires preliminary consideration. These two issues are related to control issues of law, on which there are significant grounds for disagreement…,” the regulator said.

The SEC also stated that “the motion will also seek a stay of proceedings in the district court,” noting that “a stay of proceedings in this court is warranted.”

Ripple Labs has a week to respond to the SEC letter. Stuart Alderothy, General Counsel at Ripple, tweeted: “The SEC does not yet have a ‘right’ to appeal, so they are asking permission to file an ‘interlocutory’ appeal. Ripple will file a lawsuit next week. Stay tuned.”

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