PANews reported on October 25 that according to Cointelegraph, Ripple Labs has submitted Form C to the U.S. Court of Appeals for the Second Circuit to appeal a recent ruling of the U.S. Securities and Exchange Commission (SEC). Ripple’s Chief Legal Officer Stuart Alderoty confirmed the matter in a post on October 25, adding that “the SEC cannot submit new evidence or require Ripple to provide more evidence.”
The filing follows an August ruling by the federal court for the Southern District of New York that fined Ripple $125 million for conducting institutional XRP sales, ruling that those sales constituted securities transactions.
