Ripple has submitted Form C to appeal the SEC's ruling on XRP institutional sales

ChainCatcher news, according to Cointelegraph, Ripple Labs has submitted a Form C to the U.S. Court of Appeals for the Second Circuit, appealing a recent ruling by the U.S. Securities and Exchange Commission (SEC). Ripple's Chief Legal Officer Stuart Alderoty confirmed this in a post on October 25, adding that "the SEC cannot submit new evidence nor request Ripple to provide more evidence."

This submission follows a ruling made in August by the U.S. District Court for the Southern District of New York, which imposed a $125 million fine on Ripple for its institutional XRP sales and determined that these sales constituted securities transactions.