{"id":39322,"date":"2024-10-10T22:00:56","date_gmt":"2024-10-10T22:00:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-labs-files-notice-of-cross-appeal-in-ongoing-battle-against-the-sec\/"},"modified":"2024-10-10T22:00:56","modified_gmt":"2024-10-10T22:00:56","slug":"ripple-labs-files-notice-of-cross-appeal-in-ongoing-battle-against-the-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-labs-files-notice-of-cross-appeal-in-ongoing-battle-against-the-sec\/","title":{"rendered":"Ripple Labs files notice of cross-appeal in ongoing battle against the SEC"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_Ripple_Judge-1-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_Ripple_Judge-1-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_Ripple_Judge-1-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_Ripple_Judge-1-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">Ripple Labs filed its cross-appeal in the US Court of Appeals for the Second Circuit<\/li>\n<li aria-level=\"1\">The company is attempting to contest an August 7 judgement made by Judge Analisa Torres<\/li>\n<li aria-level=\"1\">The SEC v Ripple Labs is a case that dates back to 2020<\/li>\n<\/ul>\n<p>Ripple Labs has filed a cross-appeal in its ongoing litigation battle against the US Securities and Exchange Commission (SEC).<\/p>\n<p>The <a href=\"https:\/\/pacer.treeofalpha.com\/files\/551082_979.pdf\" target=\"_blank\" rel=\"noopener\">filing<\/a> was submitted to the US Court of Appeals for the Second Circuit. <a href=\"https:\/\/coinjournal.net\/search\/ripple\">Ripple<\/a> is attempting to challenge the judgement made against the company on August 7 where it was ordered to pay $125 million for violating securities laws by Judge Analisa Torres.<\/p>\n<p>\u201cToday, Ripple filed a cross-appeal to ensure nothing\u2019s left on the table, including the argument that there can\u2019t be an \u201cinvestment contract\u201d without their being essential rights and obligations found in a contract,\u201d said Stuart Alderoty, chief legal officer at Ripple, in a post on <a href=\"https:\/\/x.com\/s_alderoty\/status\/1844408944657301885\" target=\"_blank\" rel=\"noopener\">X<\/a>.<\/p>\n<h2>An ongoing case<\/h2>\n<p>In 2020, the SEC sued Ripple, Christian Larsen, the company\u2019s co-founder and former CEO, and <a href=\"https:\/\/coinjournal.net\/search\/brad+garlinghouse\">Brad Garlinghouse<\/a>, Ripple\u2019s current CEO, after <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2020-338\" target=\"_blank\" rel=\"noopener\">alleging that they raised $1.3 billion<\/a> through the sale of XRP, an unregistered securities offering, according to the regulator.<\/p>\n<p>However, last year, Judge Torres found that <a href=\"https:\/\/coinjournal.net\/news\/ripple-wins-sec-case-xrp-not-a-security\/\">XRP wasn\u2019t a security<\/a> when it came to the sales to the public, its employees, and developers, marking a huge win against the SEC. Yet, direct sales to institutional investors, Torres found that these sales were securities.<\/p>\n<p>Alderoty continued: \u201cLast year, the SEC unsuccessfully tried to take an early appeal of the rulings that Ripple\u2019s XRP sales on exchanges and Ripple\u2019s other XRP distributions, like to employees and developers, weren\u2019t securities. They\u2019ll likely go after these again \u2013 and they will lose on both again.\u201d<\/p>\n<p>Speaking on the matter, Garlinghouse said:<\/p>\n<blockquote>\n<p>\u201cWith our cross-appeal today, we\u2019re looking forward to sealing the SEC\u2019s fate and finally putting an end to the SEC\u2019s regulation-by-enforcement agenda. Ripple was the industry leader in the first go-round in court and we look forward to leading the way in this round as well.\u201d<\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/ripple-labs-files-notice-of-cross-appeal-in-ongoing-battle-against-the-sec\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Ripple Labs filed its cross-appeal in the US Court of Appeals for the Second Circuit The company is attempting to contest an August 7 judgement made by Judge Analisa Torres The SEC v Ripple Labs is a case that dates back [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":39323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39322"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39322"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39323"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}