A federal judge has granted the Securities and Exchange Commission (SEC) permission to file an appeal in its legal battle with Ripple Labs. The SEC has until August 18 to file its interlocutory appeal, and Ripple Labs has until September 1 to file opposition papers. The appeal is intended to avoid lengthy litigation and resolve the dispute over the distribution of the digital asset XRP. In July, Judge Analisa Torres ruled that programmatic sales of XRP did not meet the standards of the Howey test, but institutional sales did. The SEC claims that the appeal will prevent the need for protracted remedies.
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