SEC Continues Pointless Battle in Ripple Lawsuit
The United States Securities and Exchange Commission (SEC) has filed a reply memorandum in support of its motion to certify an interlocutory appeal in the ongoing legal battle with Ripple, according to documents shared by defense attorney James K. Filan on Twitter. The SEC argues that the issues raised by the court’s order on summary judgment in the case present “knotty legal problems” that warrant appellate review. The agency also accuses Ripple of seeking to prolong the litigation to continue selling XRP in public markets. However, legal expert Jeremy Hogan praised the SEC’s reply, saying it did a good job of distinguishing between two similar cases. The price of XRP has dropped significantly amid the legal uncertainty.
Hot Take: SEC’s Battle with Ripple Is Becoming Pointless
As the legal standoff between the SEC and Ripple continues, many in the cryptocurrency community believe that the regulator’s fight is increasingly pointless. The SEC has filed a reply memorandum in support of its motion to certify an interlocutory appeal, arguing that the legal issues in the case warrant appellate review. However, the agency’s claims that Ripple is prolonging the litigation for its own benefit and that a stay would conserve judicial resources have been met with skepticism. Despite the ongoing legal battle, the price of XRP has experienced significant declines. Ultimately, the industry awaits the conclusion of this lawsuit to determine the future of Ripple and its cryptocurrency.
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