According to Techub News, CoinDesk reported that Ripple Labs has filed a cross-appeal against the U.S. Securities and Exchange Commission (SEC) regarding its sale of XRP to exchanges. Earlier this month, the SEC filed a notice of appeal in a long-standing case against Ripple, and the regulator first sued Ripple in December 2020. Ripple Chief Legal Officer Stuart Alderoty said Ripple's appeal is intended to ensure that the company retains its views and arguments in the case, but he did not elaborate on what the company might argue in its motion. Alderoty said that both parties will fill out a form in the coming weeks to elaborate on their arguments, but neither the regulator nor the company will disclose specific details until they submit opening statements.
Techub News Note: A cross-appeal refers to an appeal filed by the winning party against a judgment when the losing party has already appealed against the judgment, that is, an appeal filed by the respondent against the appellant, and its purpose is usually to seek the dismissal of the losing party's appeal.