Garlinghouse asserts XRP’s position amid SEC legal tangle

Ripple defends XRP‘s status after the SEC’s interlocutory appeal, highlighting a pivotal July 13 ruling and asserting their regulatory stance.

The legal battle between Ripple and the US Securities and Exchange Commission (SEC) intensifies, with the latest developments stemming from the regulator’s recent interlocutory appeal request.

On July 13, Ripple achieved partial success in a summary decision. However, unsatisfied with the verdict, the SEC is now seeking an interlocutory appeal. This type of appeal challenges a court’s decision before the case’s conclusion.

Responding to this, Ripple’s legal team, led by chief legal officer Stuart Aldetory, filed objections with Judge Analisa Torres. Aldetory emphasized that there aren’t any extraordinary circumstances justifying an early appeal, pointing to the standard procedure requiring resolving all issues before pursuing an appeal.

We oppose the SEC’s request for an interlocutory appeal. There is no extraordinary circumstance here that would justify departing from the rule requiring all issues as to all parties to be resolved before an appeal. https://t.co/hjNIwEZkSt

— Stuart Alderoty (@s_alderoty) August 16, 2023

Ripple’s CEO, Brad Garlinghouse, reiterated his stance on the ongoing matter. He emphasized that XRP isn’t deemed security regardless of the appeal outcome.

He dismissed the SEC’s claims that he and Christian Larsen acted recklessly regarding XRP’s classification, deeming such accusations baseless.

The Judge’s July 13 ruling said that the SEC would be put to their proofs at trial regarding their claim against Chris and me. We look forward to proving the SEC wrong as a matter of fact and law (again). 2/2 https://t.co/qvS34XZbVJ

— Brad Garlinghouse (@bgarlinghouse) August 16, 2023

Garlinghouse highlighted the significance of the July 13 ruling, which mandates the SEC to substantiate its claims against him and Larsen during the trial.

Garlinghouse’s tweets convey his confidence in challenging the SEC’s perspective, reiterating Ripple’s commitment to proving XRP’s regulatory status.