u.today
The U.S. Securities and Exchange Commission has decided to appeal the Ripple case.
As reported by U.Today, the agency was widely rumored to challenge the court ruling.
Last year, Analisa Torres, a judge for the United States District Court for the Southern District of New York, recognized secondary XRP sales as non-securities. This has been framed as a substantial win for Ripple, but the distinction between programmatic and institutional sales has proven to be quite controversial.
The deadline for the SEC's appeal was set for Oct. 7.
The price of XRP is down nearly 6%.