In a ruling delivered on 3 October, district court Judge Analisa Torres rejected the United States Securities and Exchange Commission’s (SEC) bid to appeal its loss against Ripple Labs. In her earlier decision on 13 July, Judge Torres ruled that Ripple did not violate federal securities law by selling its XRP token on public exchanges. The SEC had sought to appeal the decision by claiming that such an appeal would be significant for numerous lawsuits. However, the judge disagreed, stating that there was no substantial basis for different opinions on her findings and that an appeal would not significantly progress the case toward a resolution.