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They cannot appeal immediately. They will need to wait until there’s a final judgment which can’t happen until the penalty phase is over. This could take months which means the SEC will not get to appeal until next year.This might take months, meaning the SEC will not be able to file an appeal until next year. Terrett went on to say that the SEC only dropped the charges against Ripple executives Brad Garlinghouse and Chris Larsen, not the entire case.
In a throwback in the case, Judge Torres ruled in July that Ripple did not violate federal securities laws by making XRP available to individual investors through exchanges. The court also ruled in the same verdict that the business had violated federal securities law by selling XRP directly to institutional investors.In another big win for Ripple, the U.S. Securities and Exchange Commission has decided not to pursue claims that the company's CEO Brad Garlinghouse or Executive Chairman Chris Larsen aided and abetted the company in violating federal securities laws in its XRP sales, canceling a trial scheduled for April next year.