United States of America: Issued ruling in Securities and Exchange Commission v Ripple Labs on programmatic crypto offers and sales on crypto exchanges

On 3 October 2023, the United States District Court for the Southern District of New York denied the Securities and Exchange Commission's (SEC) motion for certification of interlocutory appeal because the regulator failed to meet its burden of proof. The court stated that the SEC couldn't establish a differing legal opinion regarding whether the types of sales and distributions of the digital asset XRP in question constitute an investment contract. The court scheduled a trial to address the other arguments brought by SEC for 23 April 2024.