Ripple vs. SEC: Judge Torres’ Greenlight for the SEC Does Not Mean ‘An Interlocutory Appeal Has Been Authorized’

Judge Analisa Torres has approved the United States Securities and Exchange Commission’s (SEC) request to submit a motion seeking permission to file an interlocutory appeal in the ongoing case against Ripple Labs. According to a document shared by pro-XRP lawyer James K. Filan, the SEC can file their motion today, August 18. Ripple has until September 1 to oppose this motion.

The document also mentioned that the SEC could respond to Ripple’s opposition by September 8, but this would happen only if the SEC has a reply to Ripple’s argument.

James wrote on Twitter, “The Court has set a briefing schedule for the SEC’s request to file a Motion for Leave to File an Interlocutory Appeal. This does not mean an interlocutory appeal has been authorized. It just means the SEC is allowed to request it.”

Ripple had opposed the SEC’s action and had said, “There is no extraordinary circumstance here that would justify departing from the rule requiring all issues as to all parties to be resolved before an appeal.”

Ripple’s Chief Legal Officer, Stuart Alderoty, disagreed with the appeal request, saying there’s no special reason for it. But if the SEC gets approval from Judge Torres and the Second Circuit Court of Appeals, all proceedings might be paused until the appeal is settled. The court will decide whether to allow the appeal.

Brad Garlinghouse had previously mentioned that the appeal request doesn’t change the fact that XRP is not considered a security. He explained that this point is not up for debate.

Despite this, the SEC maintains its stance that both he and Chris made a reckless assumption about XRP’s security status. He pointed out the judge’s ruling on July 13, stating that the SEC would need to provide evidence in a trial to support their claims against him and Chris.