SEC Bid for Quick Appeal of Crypto Ruling Is Denied by Judge
- Judge Torres’s ruling was seen as victory for crypto industry
- Ripple accused SEC in court filing of ‘rushing to appeal’
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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.