SEC 有 11 天的时间对 XRP 裁决提出上诉

在 Ripple 与 SEC 的新一轮法律冲突中，前 SEC 律师 Marc Fagel 透露了该机构可能的上诉策略。

The Securities and Exchange Commission (SEC) has 11 days to appeal a court ruling that XRP sales were not required to be registered with the agency, in what could be a last-ditch effort to claim a victory in its two-year legal battle against Ripple Labs Inc.

美国证券交易委员会 (SEC) 有 11 天的时间对法院裁决提出上诉，该裁决认为 XRP 销售无需在该机构注册，这可能是其两年法律斗争中取得胜利的最后努力。瑞波实验室公司

A recent court victory for Ripple saw a judge rule that its sales of XRP, the native token of the XRP Ledger, did not qualify as sales of unregistered securities. This effectively dismissed the SEC’s case, which began in December 2020.

Ripple 最近在法庭上取得胜利，法官裁定其销售 XRP（XRP Ledger 的原生代币）不符合销售未注册证券的资格。这实际上驳回了 SEC 于 2020 年 12 月开始的案件。

However, the SEC has maintained that programmatic sales of XRP — sales made through intermediaries without direct involvement from Ripple — did constitute sales of unregistered securities. If the agency decides to appeal, this is likely to be the main point of contention.

然而，SEC 坚持认为 XRP 的程序化销售（即通过中介机构进行的销售，而 Ripple 没有直接参与）确实构成了未注册证券的销售。如果该机构决定上诉，这可能会成为争论的焦点。

Former SEC lawyer Marc Fagel addressed rumors of a potential appeal in a recent tweet. According to Fagel, if the SEC does decide to appeal, it will likely challenge the court’s decision regarding XRP sales made through intermediaries. The appeal, he said, will not focus on the $125 million penalty that Ripple was ordered to pay, as Ripple received a stay order for that penalty.

美国证券交易委员会前律师马克·法格尔 (Marc Fagel) 在最近的一条推文中回应了可能上诉的传言。 Fagel 表示，如果 SEC 确实决定上诉，它可能会质疑法院关于通过中间商进行 XRP 销售的决定。他表示，上诉不会重点关注 Ripple 被勒令支付的 1.25 亿美元罚款，因为 Ripple 收到了该罚款的暂缓执行令。

“Many rumors swirling about a potential SEC appeal. If they do appeal, it will challenge the ruling on whether programmatic sales (i.e. through intermediaries) were unregistered securities offerings. It has nothing to do with the penalty.”

“有很多关于美国证券交易委员会可能上诉的谣言。如果他们确实上诉，它将质疑程序化销售（即通过中介机构）是否为未经注册的证券发行的裁决。这与处罚无关。”

Fagel’s statement appears to contradict earlier reports, which suggested that the SEC could appeal the court’s decision on the definition of an “investment contract” under Section 2(a)(1) of the Securities Act of 1933. However, Fagel’s interpretation aligns with the agency’s closing arguments during the trial, in which it highlighted the need to determine the legal status of programmatic XRP sales.

Fagel 的声明似乎与之前的报道相矛盾，此前的报道表明 SEC 可以对法院根据 1933 年《证券法》第 2(a)(1) 条对“投资合同”的定义做出的决定提出上诉。然而，Fagel 的解释与该机构在审判期间的结案陈词中强调需要确定程序化 XRP 销售的法律地位。

Meanwhile, ex-SEC lawyer James K. Farrell also commented on the rumors, suggesting a 75% chance that the agency will proceed with an appeal. According to Farrell, failing to appeal might weaken the SEC’s position in future crypto asset cases. The October 7 deadline is fast approaching, leaving everyone guessing about the next move.

与此同时，前 SEC 律师詹姆斯·K·法雷尔 (James K. Farrell) 也对谣言发表了评论，表示该机构有 75% 的可能性将继续上诉。法雷尔表示，未能上诉可能会削弱美国证券交易委员会在未来加密资产案件中的地位。 10 月 7 日的最后期限即将到来，每个人都在猜测下一步的行动。

“I’d say there’s a 75% chance that the SEC will appeal the XRP ruling. The 7th Circuit recently reversed Judge Stadtmueller in another crypto case & the SEC fully appealed that decision. Failing to appeal here might weaken the SEC’s position in future crypto asset cases.”

“我想说 SEC 有 75% 的机会对 XRP 裁决提出上诉。第七巡回法院最近在另一起加密货币案件中推翻了 Stadtmueller 法官的判决，并且 SEC 对该决定提出了全面上诉。如果未能上诉，可能会削弱 SEC 在未来加密资产案件中的地位。”

XRP price took a toll amid SEC’s appeal rumors

XRP 价格因 SEC 上诉传闻而受到影响

XRP price has been impacted by rumors of a potential SEC appeal in its lawsuit against Ripple. At the time of writing, XRP is trading at $0.5834, down 1.4% over the past day, with a trading volume that has also decreased by 11%.

XRP 价格受到 SEC 可能对 Ripple 诉讼提出上诉的传言的影响。截至撰写本文时，XRP 交易价格为 0.5834 美元，较过去一天下跌 1.4%，交易量也减少了 11%。

Despite a recent court victory for Ripple, which saw a judge rule that its sales of XRP did not qualify as sales of unregistered securities, the rumors of a potential SEC appeal have kept XRP’s price in the red for the past few days.

尽管 Ripple 最近在法庭上取得了胜利，法官裁定其销售的 XRP 不符合销售未注册证券的条件，但有关 SEC 可能上诉的传言使 XRP 的价格在过去几天里一直处于亏损状态。

Both Ripple executives, CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, have maintained that the case is over, denying any potential appeal claims. However, many experts still believe that the SEC could file a last-minute appeal, which would drag the legal battle and potentially impact XRP’s market performance.

Ripple 的两位高管，首席执行官布拉德·加林豪斯 (Brad Garlinghouse) 和首席法务官斯图尔特·阿尔德罗蒂 (Stuart Alderoty) 都坚称此案已经结束，并否认任何潜在的上诉主张。然而，许多专家仍然认为 SEC 可能会在最后一刻提出上诉，这将拖延法律战并可能影响 XRP 的市场表现。

With both sides preparing for the next steps, the case remains one of the most closely watched in the crypto space. As the October deadline nears, the possibility of an SEC appeal could lead to extended legal battles, leaving XRP’s future hanging in the balance.

随着双方都在为下一步做准备，此案仍然是加密货币领域最受关注的案件之一。随着 10 月份截止日期的临近，美国证券交易委员会上诉的可能性可能会导致长期的法律纠纷，从而使 XRP 的未来悬而未决。

As XRP fiyatı bugün düşüyor, önemli gelişmeler yaşanıyor. Ripple’ın 14-15 Ekim tarihleri arasında düzenleyeceği Swell konferansı, stablecoin’i RLUSD’nin lansmanı ve potansiyel bir XRP odaklı ETF duyurusu ile hareketleniyor.

随着 XRP 价格今天下跌，重要的事态发展正在发生。 Ripple 的 Swell 会议将于 10 月 14 日至 15 日举行，随着其稳定币 RLUSD 的推出以及潜在的以 XRP 为重点的 ETF 的宣布，会议变得热闹起来。

Ayrıca Ripple, XRP Ledger üzerinde 50 trilyon dolarlık bir tokenizasyon patlamasına hazırlanırken, herkes SEC’in devam eden davaya ilişkin bir temyiz başvurusu yapıp yapmayacağına odaklanmış durumda. Ripple liderliği bundan etkilenmiyor gibi görünse de yasal mücadelenin devam etmesi halinde XRP’nin ve kripto düzenlemelerinin geleceği önemli ölçüde değişebilir.

此外，随着 Ripple 为 XRP Ledger 上 50 万亿美元的代币化热潮做准备，每个人都关注 SEC 是否会就正在进行的案件提出上诉。尽管 Ripple 领导层似乎不为所动，但如果法律斗争继续下去，XRP 和加密货币法规的未来可能会发生重大变化。