Ripple Labs has filed a cross-appeal in the case against the US Securities and Exchange Commission, which was first filed nearly four years ago.
That appeal was filed Thursday with the US Court of Appeals for the Second Circuit, a week after the SEC announced its appeal of an earlier ruling.
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Stuart Alderoty, Ripple's chief legal officer, has said the cross-appeal has been filed to ensure that all arguments are presented, including the argument that there can be no "investment contract" without the essential rights and obligations described in a contract.
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Recall that in 2020, the SEC charged Ripple with raising $1.3 billion through XRP, which the agency considers unregistered securities.
Last year, a judge ruled that some of Ripple's sales did not violate securities laws due to a blind offering process, but others were considered securities.