What You Need to Know About the Potential Impact of an SEC Appeal on XRP Holders
– The recent ruling classified the programmatic sale of XRP tokens as non-securities.
– Pro-XRP lawyer John Deaton reassures XRP holders that the effects on them are not likely to be significant.
– An appeal by the SEC would take at least two years before a decision is issued by the 2nd Circuit.
– The ruling by Judge Torres would remain the governing law during the appeal process.
– The Second Circuit is unlikely to find fault with Judge Torres’s application of the 3rd Howey factor.
An Appeal is Not Necessarily a Setback
Despite speculation about the potential impact of an SEC appeal on the crypto market, prominent Pro-XRP lawyer John Deaton believes that XRP holders should not be overly concerned. He reassures them that even if an appeal were to occur, the ruling by Judge Torres would continue to govern for at least the next two years. This means that the SEC would have limited success in challenging the judgment. Additionally, Deaton explains that the Second Circuit, where the appeal would be filed, is unlikely to overturn Judge Torres’s decision on the 3rd Howey factor. This provides a measure of stability and reassurance to XRP holders, although the situation remains legally complex and requires vigilance.
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