The Securities and Exchange Commission (SEC) has filed a letter with the United States District Court Southern District of New York seeking permission for an interlocutory appeal in its ongoing legal battle with Ripple. The SEC wants to appeal the part of the court’s decision regarding programmatic sales and other distributions of XRP. The agency believes there are substantial differences of opinion on controlling questions of law, and an inter-district split has already developed. The SEC argues that an interlocutory review would help expedite the termination of the litigation. However, the SEC would need approval from the court to appeal, followed by permission from the Second Circuit. The SEC accused Ripple of raising $1.3 billion through the sale of XRP, which it considers an unregistered security.
AI Sentiment: Negative
