BlockBeats news, October 11, according to CoinDesk, Ripple Labs announced on Thursday that the company will appeal the ongoing case of the U.S. Securities and Exchange Commission (SEC) as part of maintaining its legal defense while the SEC's appeal of the case is being heard in the Court of Appeal. Earlier this month, the SEC filed a notice of appeal in its long-standing case against Ripple, and the regulator first sued Ripple in December 2020.

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. He said: "We actually do this to ensure that we leave no room, including arguments such as: without basic rights and obligations in the contract, there can be no investment contract."