Although more than 1 year has passed since the decision of the trial judge Analisa Torres, it was stated that the US Securities and Exchange Commission (SEC) will appeal the decision that XRP’s stock market sales (sales to small investors) are not investment contracts.

The news was given by Fox reporter Eleanor Terrett from the US media. A lawyer who spoke to Terrett and stated that he left his position at the SEC said the following:

‘The SEC thinks that it is right in this case, that the decision is not correct. The employees dealing with the case also state that it should be appealed.’

Time until October 7

As will be remembered, the case was concluded last month and Ripple was sentenced to pay a $125 million fine after a 4-year process. The SEC has the right to appeal to the court until October 7.

Ripple supporter lawyer: They lost…

Attorney Jeremy Hougan, known for his support for Ripple throughout the litigation process and his information on social media, said in his response to reporter Terrett’s tweet:

“Of course they will want to appeal, because they are the losers of the case … What the SEC should think about next is whether this appeal will take back their authority over investor protection. All this is an indication that the SEC has lost control.”