According to BlockBeats, on July 22, The Block reported that SEC lawyers submitted documents to Judge Jed Rakoff of the U.S. District Court for the Southern District of New York on Friday, stating that some of the rulings in the Ripple case were wrong and that this court should not follow these rulings. SEC staff is considering various available avenues for further review and intends to recommend that the SEC seek such a review. It is reported that the reason why the SEC may appeal is that when dealing with the Terraform and Do Kwon cases, another judge of the same court cited the relevant rulings in the Ripple case. Unless the SEC appeals the ruling, the ruling will be regarded as a precedent related to this case. If the bipartisan committee approves the appeal, the SEC will seek to overturn the part of the Ripple ruling that is unfavorable to them.