The SEC has recently moved to appeal a judge’s partial invalidation of XRP as a security, a decision Ripple sought to block, which the agency is now countering with a motion for an interlocutory review.
This law allows certain decisions to be appealed before the case is finalized and the agency contends this option could expedite the process.
Ripple lawyers, however, argued there is no legal basis for challenging the decision and that an appeal would only delay things.
This ongoing dispute between the SEC and Ripple began in 2020 when the agency alleged the company illegally sold securities in the form of XRP, collectively worth $1.3 billion, and sued their CEO Brad Garlinghouse and co-founder Chris Larsen.
