SEC Urges Court to Grant Ripple Labs Appeal Citing ‘Knotty Legal Problems’

The U.S. Securities and Exchange Commission (SEC) has filed a motion urging the court to allow an appeal regarding a recent ruling from the Labs lawsuit, which concluded that XRP is not classified as a security when sold to retail investors.

The SEC contended that there are complex legal issues relating to the court’s interpretation of the law, particularly the Howey Test, that necessitate further review.