SEC Appeals Judge Ruling in Ripple Case

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The SEC has filed an appeal against the United States Court of Appeals for the Second Circuit’s ruling in the case of web3 payments company Ripple.

This comes after a decision on August 7 by a judge ordering Ripple to pay a civil penalty of $125 million, significantly lower than the SEC’s initial request of $2 billion.

Despite this, the SEC is still appealing the ruling, claiming that the district court decision conflicts with securities laws and supreme court precedent.

Ripple CEO Brad Garlinghouse responded to the appeal on social media, stating that the crypto industry and the rule of law have already won and that XRP’s status as a non-security remains unchanged.

However, Ripple plans to continue fighting the case in court if necessary.