Will the SEC’s Motion for an Interlocutory Appeal be Granted?
A former SEC official, Marc Fagel, has shared his opinion on the likelihood of the court granting the SEC’s motion for an interlocutory appeal in its legal battle against Ripple Labs. According to Fagel, the specific requirements for an interlocutory appeal are difficult to meet, suggesting that the SEC’s request is more likely to be denied.
Factors Influencing the Court’s Decision
Fagel’s response came after a member of the XRP community asked for his opinion on the likelihood of the court granting the SEC’s request. The user mentioned factors such as the importance of the SEC’s case for the crypto industry and conflicting rulings in other cases. Fagel believes that considering these key points could increase the SEC’s chances of being granted an interlocutory appeal.
The SEC’s Success in Crypto Enforcement Actions
Fagel acknowledges that despite Ripple and Grayscale’s successes, the SEC’s crypto enforcement actions have been largely successful. Although the SEC suffered a partial loss in the summary judgment, it was able to prove that Ripple illegally raised $700M in unregistered securities sales. However, Fagel notes that the SEC still faces tough battles ahead, particularly in the “exchange case” against Binance and Coinbase, where the issue of regulatory jurisdiction over crypto sales on exchanges is being contested.
Hot Take: SEC’s Chances of Interlocutory Appeal
The likelihood of the court granting the SEC’s motion for an interlocutory appeal in its legal battle against Ripple Labs is uncertain. Former SEC official Marc Fagel believes that the specific requirements for an interlocutory appeal are difficult to meet, making it more likely that the SEC’s request will be denied. However, Fagel also suggests that certain factors, such as the importance of the case for the crypto industry and conflicting rulings in other cases, could increase the SEC’s chances of being granted an appeal. Overall, the outcome of the SEC’s motion remains uncertain, and the SEC still faces challenges in its ongoing crypto enforcement actions.
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