The legal battle between Ripple Labs and the SEC has taken a new turn as a lead plaintiff, Bradley Sostack, has filed an appeal challenging recent court decisions in favor of Ripple. The appeal targets rulings on summary judgments, class action certifications, and older dismissals, focusing on how Ripple's token, XRP, fits into securities law. The outcome of this case could have implications for the entire cryptocurrency industry as it tests how courts interpret digital assets under securities law. Additionally, the battle now includes a debate over Ripple's legal costs, with the plaintiff objecting to reimbursement until the appeal is resolved. The case will now go to the Ninth Circuit Court of Appeals for review, adding another hurdle for Ripple as the company also faces a critical SEC deadline. The appeal and the departure of SEC Chair Gary Gensler could bring new challenges and potential changes to Ripple and cryptocurrency regulations.



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