SEC Denied Appeal in Groundbreaking XRP Ruling

A federal judge has granted the U.S. Securities and Exchange Commission (SEC) permission to file an interlocutory appeal against her ruling that Ripple did not violate securities laws by making XRP available to retail traders. The SEC has until Friday to file the motion, and Ripple has until September 1 to respond. If the SEC wins its motion, it can then seek permission from an appeals court to file the actual appeal. The appeal process will not pause the rest of the case, but if approved, the circuit court may issue a stay on all proceedings until the appeal is resolved.