SEC appeals against Ripple

The dispute over XRP is not over. The SEC has now filed an appeal. The SEC wants to continue to classify the Ripple coin as a security.

Ripple may have to prepare for another tough legal battle. According to media reports, a request from the SEC for an appeal has now been granted. The SEC has until today, Aug. 18, to officially file the request.

In an Aug. 9 letter, the regulator argued that the decision could affect several pending lawsuits. Under U.S. law, the authority plans to appeal. Ripple, in turn, may appeal the SEC's request.

XRP is not covered by securities laws

The case against Ripple has been ongoing since December 2020 and involves allegations of unauthorized securities trading. In mid-July, the court ruled in Ripple's favor. According to the ruling, trading in XRP was not covered by securities laws. Exceptions were sales to institutional investors.