Ripple vs SEC: Ripple files opposition motion. What happens next?

On 10 August 2023, AMBCrypto reported that the SEC filed a Motion for Leave to File an Interlocutory Appeal with regard to sales of XRP. Furthermore, Ripple’s Chief Legal Officer also took to X (formerly known as Twitter) to state that the payments company would file its response in the coming week.

Fast forward to 16 August and Ripple had a reply. As per James K. Filan, Ripple filed their opposition with regard to the SEC’s request for an interlocutory appeal.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Ripple files it’s opposition to the SEC’s anticipated motion for leave to file an interlocutory appeal. pic.twitter.com/Rk8Ho0Gfxw

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 16, 2023

A never-ending state of affairs

As per Attorney James K. Filan’s tweet, Ripple’s opposition motion stated that the SEC can appeal the court’s decision. However, that may be done after the normal course is followed and after the final judgment is presented with a full record. Additionally, Ripple also claimed that the SEC would have to present more evidence than just state the incorrectness of the ruling.

Furthermore, Brad Garlinghouse, CEO of Ripple, also filed his response to the ongoing appeal put forth by the SEC. The response stated that

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: @bgarlinghouse and @chrislarsensf file their opposition to the SEC’s request to file an interlocutory appeal and for a stay of all proceedings pending appeal. pic.twitter.com/HU7vXOKegW

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 16, 2023

Aashna is a News Editor at AMBCrypto and is particularly interested in the how and what of blockchain technology, along with its vast applications. A flair for the language and her inquisitive nature are factors that spike her interest in the cryptocurrency space.