SEC has requested today to appeal certain aspects of a recent ruling in the Ripple Labs case, citing a discrepancy with existing securities laws.

In a significant victory for the cryptocurrency industry, XRP successfully argued that it should not be classified as a security in the SEC lawsuit. The judge's conclusion from last week stated that the sales of Ripple's XRP token to institutional investors violated the SEC's regulations, while offerings to retail investors on exchanges did not.

The appeal filed by the SEC contends that the aforementioned portions of the Ripple case were erroneously decided and urges the court not to adhere to them. Specifically, the SEC argues that the ruling improperly converts the long-established Howey Test, which determines whether assets qualify as securities, into a subjective standard.