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Ripple’s Chief Legal Officer has revealed that his company has filed a cross-appeal in its case against the US Securities and Exchange Commission (SEC). This provides a new twist to the legal battle that has been ongoing since December 2022.
Ripple Files Cross-Appeal Against SEC
Alderoty revealed in an X post that they filed against a cross appeal against the US SEC today. He stated that they took this step to ensure that “nothing’s left on the table,” including the argument that there can’s be an investment contract without there being essential rights and obligations found in a contract.
The Ripple CLO noted that the SEC had already said they weren’t appealing the ruling that XRP itself isn’t a security. Therefore, their cross appeal won’t border on this issue. He added that this remains the law and that and appeal on other issues doesn’t change it.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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