According to TechFlow, The Block reported that according to relevant documents, the US SEC is appealing the US Second Circuit Court of Appeals' previous ruling on Web3 payment company Ripple.

“We believe the district court’s ruling in the Ripple case conflicts with decades of Supreme Court precedent and securities law, and we look forward to litigating the case in the Second Circuit,” an SEC spokesperson told The Block.

Earlier news, Ripple was fined $125 million in a lawsuit with the U.S. Securities and Exchange Commission (SEC).