Ripple Hits Back at SEC with Cross-Appeal

1 month ago 31304

ARTICLE AD BOX

Alex Dovbnya

Ripple is yet to get into the specifics of its cross-appeal

Ripple Hits Back at SEC with Cross-Appeal

Cover image via U.Today

San Francisco-based enterprise blockchain company Ripple has filed a cross-appeal of the court's final judgment.

As reported by U.Today, Ripple was ordered to pay a $125 million fine by Judge Analisa Torres in August.

The SEC filed its own notice of appeal in the Ripple case earlier this month.

For now, however, it is not clear what exactly the regulator is going to appeal. Many have speculated that the SEC might target the July 2023 ruling, which recognized secondary XRP sales as non-securities.

The specifics of the SEC's appeal and Ripple's cross-appeal will become known once the two companies file their respective opening briefs.

The XRP price is currently changing hands at $0.54, according to CoinGecko data.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].