Better Markets Urges Appeals Court to Back SEC in Ripple Case
The non-profit has backed the SEC's appeal against Ripple, seeking to overturn a key district court ruling.
Vismaya V
By Vismaya V
Jan 23, 2025
4 min read
Ripple helps to maintain the code for the XRP blockchain. Image: Shutterstock.
Ripple helps to maintain the code for the XRP blockchain. Image: Shutterstock.

Non-profit firm Better Markets has thrown its weight behind the U.S. Securities and Exchange Commission (SEC) by filing an amicus brief in its appeal against Ripple Labs. 

The brief asks the Second Circuit Court of Appeals to overturn a 2023 district court ruling that deemed Ripple’s XRP sales to retail investors exempt from U.S. securities laws.

The non-profit flagged the decision in its brief, stating the court misapplied the Howey Test and jeopardized the integrity of investor protections.