The U.S. Securities and Exchange Commission (SEC) has filed a last-minute appeal to overturn parts of a summary judgment made by U.S. District Judge Analisa Torres over a year ago. This ruling partially favored Ripple, affirming that sales of XRP to retail investors on digital asset platforms do not violate U.S. securities laws. The SEC's appeal, filed with the Second Circuit, does not contest the ruling that XRP retail sales are not securities; rather, it focuses on other aspects, including Ripple's offers and personal sales of XRP by its executives. Ripple had previously faced a penalty for its institutional sales of XRP to large investors. The SEC’s appeal will allow the court to reassess the legal interpretations regarding XRP within the context of securities laws. The timing of the SEC's filing has sparked outrage among Ripple supporters, who believe the agency may have missed a crucial deadline for procedural forms related to the appeal.

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