SEC’s Latest Filing Does Not Appeal Court’s XRP Security Status Ruling, Says Ripple Legal Chief
Ripple chief legal officer Stuart Alderoty says the recent filing by the US Securities and Exchange Commission (SEC) in its case against Ripple Labs does not appeal the ruling that XRP is not a security. Alderoty’s comments follow an Oct. 16 Form C filing by the SEC with a pre-judgement statement against certain aspects of the court’s summary judgment. Alderoty Says Court Decision Regarding XRP’s Security Status “Stands As The Law Of The Land” Ripple defense attorney James Filan shared the filing on Oct. 17. In their appeal, the SEC asks the court to review its decisions related to Ripple’s XRP sales through exchange platforms. It also requests the court to review the ruling on the personal sales executed by Ripple executives Brad Garlinghouse and Chris Larsen . The SEC went on to argue that Larsen and Galinghouse violated securities laws by offering and selling XRP. It also said that they both “aided and abetted Ripple’s viola...