In the latest chapter of the ongoing saga, Ripple Labs has filed an opposition to the US Securities and Exchange Commission’s (SEC) Interlocutory appeal request. Moreover, Ripple’s Chief Legal Officer, Stuart Alderoty, said that rejection is in order due to the lack of “extraordinary circumstances that would justify” a departure from a typical appeal.
The SEC had filed an interlocutory appeal against Judge Analisa Torres’ ruling that the sale of XRP is not the sale of a security. Subsequently, the ruling was a massive loss for the agency, resulting in their filing of the aforementioned appeal on August 9th.
Also Read: Ripple (XRP) Case to Undergo Jury Trial Next Year
Ripple Answers SEC Appeal Request With New Filing
The ongoing legal battle between the SEC and Ripple appears to be far from over. Despite Judge Torres’s landmark ruling in the two-year-long case, expected appeals are coming to fruition. Yet the digital asset entity is fighting back against some more SEC claims.
Specifically, Ripple has filed an opposition to the SEC’s interlocutory appeal request that was filed on August 9th. Subsequently, the agency cited circumstances regarding its case against Terraform Labs. Yet Ripple is clearly answering back to the filing’s presuppositions.
Also Read: US SEC Will Appeal Judge Ruling That Ripple XRP Isn’t a Security
An interlocutory appeal is the process of appealing one specific decision while varying aspects of the case are still ongoing. Moreover, the request is rather rare and is usually only utilized in very specific circumstances. Ripple is arguing that its current legal dilemma does not constitute that.
Ripple isn’t arguing against the agency’s right to appeal, but it is certainly arguing against its request. Specifically noting that the agency should only be allowed to appeal when the final judgment has been handed down. Allowing the entire case to unfold, and the rules to run their necessary and designated course.
