According to The Block, the U.S. Securities and Exchange Commission said on Wednesday that it had submitted a letter to the Southern District of New York (SDNY) requesting an interlocutory appeal of Judge Torres’ July 13 summary judgment in the SEC vs Ripple case. The SEC stated in the letter: The SEC seeks to prove the court’s ruling that the defendant’s “programmed” offers and sales to XRP buyers through crypto asset trading platforms, as well as Ripple’s “other distributions” in exchange for labor and services, do not involve an offer or sale of securities under the Howey test.
The SEC noted in its filing that Ripple must respond by August 16, 2023 (one week from the letter submission), and proposed filing a court brief outlining the appeal on August 18. If the judge approves the filing, Ripple will have two weeks to respond and the SEC will have another week to respond to Ripple.
