Ripple has disclosed plans to take its legal battle with the SEC to a higher court in the United States.
Ripple Labs has filed a notice of cross-appeal in its ongoing legal battle with the United States Securities and Exchange Commission (SEC).
In an Oct. 10 filing in the US District Court for the Southern District of New York, Ripple disclosed plans to take its cross-appeal to a higher court, specifically the Court of Appeals for the Second Circuit. The notice is a legal step to formally register the cross-appeal.
The Court of Appeals will review both the original appeal by the SEC — which its notice was filed on Oct. 2 — and Ripple’s cross-appeal to determine if any legal or procedural errors were made in a decision from Aug. 7. During that time, a federal judge ordered Ripple Labs to pay a $125 million civil penalty for violating securities laws.
