I've never been this excited about getting a "C" since I was in high school math. What's NOT being appealed: That XRP is not a Security. What's being appealed: Ripple's sales of XRP on exchanges and the use of XRP as a form of payment. What does "De Novo" mean? It means the appeals court is ruling on a purely question of law and doesn't have to defer to the trial court on questions of "law." What's not to like? The SEC completely failed when it had the chance to try the case against Garlinghouse and Larsen in front of a jury. And now it's trying to revive those claims. Chicken move in my opinion. What's to like? This appeal is all about money. The court order could change if Ripple were to lose, but only indirectly (as to enforcement of the order).
