Ripple Labs has filed a notice of cross-appeal against the US Securities and Exchange Commission (SEC) in their ongoing legal dispute.
The filing, made to the US Court of Appeals for the Second Circuit, aims to contest certain aspects of the final judgment made on August 7. In this ruling, the court ordered Ripple to pay a $125 million penalty to resolve charges related to the sale of XRP tokens.
While this amount was higher than the $10 million proposed by Ripple, it was significantly less than the SEC’s initial demand of nearly $2 billion, which included significant disgorgement and interest.
The court also determined that XRP tokens sold on secondary markets were not considered securities.
