Judge denies SEC's appeal against Ripple XRP

Judge denies SEC's appeal against Ripple XRP

A federal judge has denied the SEC's bid to appeal its loss against Ripple XRP/USD.

The SEC has decided to re-appealing the case following this trial, and Torres has set a trial date for April 2024 to resolve unresolved issues.

However, Judge Torres had previously ruled in July that although Ripple had violated federal securities laws by directly selling XRP to institutional investors, it had not contravened such laws by making XRP available to retail customers through programmatic sales to exchanges.

In response to the July decision, the SEC declared it wanted to file an interlocutory appeal and sought a stay on any further decision-making while seeking an appeals court review of Judge Torres' decision.

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The SEC had accused Ripple of conducting an unregistered securities offering worth about $1.3 billion by selling XRP tokens.

The stock was trading at $0.53 at the time of writing, according to Benzinga Pro.

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