Ripple Labs took another step in its ongoing legal battle with the US Securities and Exchange Commission (SEC) by filing a Civil Appeal Pre-Argument Statement on Thursday, October 24. This statement, known as Form C, plays a crucial role in outlining the critical issues Ripple intends to raise in its appeal.
The appeal process will adhere to a de novo standard of review. This means that the appellate court will re-examine the foundational aspects and arguments of the case from scratch, rather than relying solely on previous court findings.
The outcome of this appeal could have significant implications for Ripple and the broader cryptocurrency industry, particularly in terms of regulatory clarity and how cryptocurrencies are classified by regulatory bodies in the US.
