The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the US Securities and Exchange Commission’s request to appeal the determination before trial.
US District Judge Analisa Torres on Tuesday ruled against the regulator in a case it filed against Ripple in Manhattan federal court. A trial is scheduled for April.
The SEC needed Torres’s permission to appeal her ruling because it wasn’t a final judgment. The regulator was also seeking to put on hold its suit against Ripple for allegedly offering unregistered securities while the appeal is pending.
‘Enforcement 40’ for 2020
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