The Securities and Exchange Commission (SEC) has responded to Ripple Labs’ attempt to block its appeal in the legal battle between the two parties. The SEC is seeking to challenge a judge’s ruling that Ripple’s sales of the digital token XRP were not securities offerings requiring registration. The SEC argues that appeals courts can review district judges’ applications of legal tests and that a provisional appeal would hasten the case’s conclusion. However, Ripple countered that the issues the SEC wants to appeal are fact-bound and inappropriate for provisional review. They also argued that an immediate appeal would not speed up the case’s resolution.
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