The United States Securities and Exchange Commission (SEC) is filing an interlocutory appeal against the judge’s ruling in the Ripple v. SEC lawsuit. The SEC wants a federal appeals court to review the decision regarding the sale of Ripple’s XRP token, which the judge deemed compliant with securities laws. However, pro-XRP attorney John Deaton argues that the SEC’s argument is weak and cites a precedent set by the Rakoff decision in the Terra case. Deaton points out that the judge in the Terra case did not differentiate between direct and secondary token purchasers, showing that a District Court Judge can differentiate between rulings. Deaton also suggests that accepting the SEC’s argument could set a troubling precedent for governmental agencies facing lawsuits. The outcome of the SEC’s appeal remains to be seen.
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