Federal Judge Rejects SEC's Bid to Appeal in Ripple Case

<p>In
the legal battle between the US Securities and Exchange Commission (SEC) and
Ripple, a federal judge has rejected the SEC's attempt to appeal its earlier
loss against the crypto company associated with the XRP token. </p><p>The
decision was handed down by District Judge Analisa Torres. It has both
immediate and future implications for the case and the cryptocurrency industry
as a whole.</p><p>Continuation
of Legal Proceedings</p><p>In
her brief ruling issued on Tuesday, Judge Torres stated that the SEC had not
met its burden under the law to demonstrate that there were controlling
questions of law or substantial grounds for differences of opinion that
warranted an appeal. This decision, while a setback for the SEC, does not mark
the end of the legal proceedings.</p><p>Judge
Torres has scheduled a trial date for April 2024 to address other unresolved issues
in the case. That indicates there are still matters that require resolution.
The SEC retains the option to attempt an appeal of the overall case in the
future.</p><blockquote><p lang="en" dir="ltr">The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a>’s motion for leave to file an interlocutory appeal in the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case has been DENIED.