Gary Gensler’s SEC Appeals 2023 Ruling Against Ripple Labs — XRP Tanks 10%: Just Prolongs ‘Complete Embarassment’ For Agency Says Company Exec
Posted On October 3, 2024
The SEC has decided to appeal against a 2023 ruling in the hotly contested legal battle against Ripple Labs that dismissed the agency’s broader claims about XRP (CRYPTO: XRP) sales.
What Happened: The SEC lodged a notice of appeal aiming to overturn a prior decision made by Judge Analisa Torres that deemed programmatic sales of XRP to retail clients as legal while ruling that sales to institutional investors violated securities laws.
The SEC didn’t immediately respond to Benzinga’s request for comment on the matter.
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