Judge denies the SEC’s motion to appeal its loss against Ripple Labs

District Court Judge Analisa Torres has Rejected the United States Securities And Exchange commission's motion to Appeal its loss against Ripple Labs the Company responsible for issuing the xrp Token in an October 3rd court order Judge Torres denied the commission's Motion claiming that the regulator Failed to meet its burden to show that There were controlling questions of law Or that there were substantial grounds For differences of opinion on the matter Notably the decision isn't an outright Loss for the regulator as judge Torres Scheduled the trial for April 23rd 2024 To address the remaining issues in the Matter the price of xrp surged nearly 6% Immediately following the news on July 13th jokes Torres ruled par me in favor Of Ripple declaring that retail sales of The xrp token did not meet the legal Definition of a security the commission Has targeted a number of crypto firms in Recent months over allegations of Securities violations including major Cryptocurrency exchanges bance and Coinbase for all the latest crypto news And updates subscribe to the official Coin Telegraph YouTube channel