SEC Appeal baseless: Ripple

The Ripple Labs crypto company, which issues the Ripple coin, demanded the cancellation of the petition, which concerns the interim appeal of the regulator. She explains this by the fact that there is no legal justification to challenge the decision.

What else did the issuer of XRP say

The lawyers of the cryptocurrency company believe that the appeal will not only lead to a delay in the process, but also will not help to arrive at a final decision.

They additionally drew attention to the words of the regulator that the Howie test was incorrectly interpreted when applied to the distribution of XRP coins. Lawyers believe that this does not indicate possible disagreements regarding the legal norms that underlie it.

The chief lawyer also added that at the moment there are no emergency situations to explain the departure from the rule with regard to solving problems that relate to the parties, until the appeal is sent.

The defense claims that the appeal can be carried out only when a final decision is made. Recall that the meeting will be held on the case in the spring of next year. The regulator has not commented on the situation yet.

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