US SEC cannot appeal Ripple Labs decision, judge rules
© Reuters. FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoNEW YORK - A federal judge on Tuesday refused to let the U.S. Securities and Exchange Commission appeal her recent decision involvingLabs, a ruling that has been seen as a major defeat for the regulator in its effort to police cryptocurrency markets.
But the judge found no"substantial ground for difference of opinion" about her findings, and did not agree that an appeal would materially advance the case toward a conclusion. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.
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