Former SEC Chairman Jay Clayton Believes Ripple and SEC Will Appeal Judge’s Decision
Former chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton, has expressed his belief that both Ripple and the SEC will appeal Judge Analisa Torres’s decision in their ongoing legal battle. Clayton shared his views during an interview on a podcast hosted by Henri Arslanian, a crypto author and co-founder of Nine Blocks crypto hedge fund. Legal expert Bill Morgan also commented on the case, stating that Clayton expects appeals from both sides.
Clayton’s Perspectives on Ripple v. SEC Case
Clayton explained that the final resolution of the Ripple case is still a long way off due to pending appeals and potential further petitions to the court. He highlighted the distinction between securities transactions for capital raising purposes, which are heavily regulated, and secondary trading transactions. Clayton stated that the court considered the capital raising transaction as a securities transaction, while ruling that the definition of secondary trading was not. He emphasized that regulations for capital raising from the general public remain rigorous.
XRP Token Price Update
The XRP token, at the center of the lawsuit, is currently being traded at $0.51, experiencing a 1.42% decline on the day. Over the previous week, it has lost 4.06% and dropped 10.68% on its monthly chart as of February 5th.
Hot Take: Ripple and SEC Likely to Appeal Judge’s Decision
The former chairman of the SEC, Jay Clayton, believes that both Ripple and the regulatory agency will appeal Judge Analisa Torres’s decision in their legal battle. Clayton’s insight carries weight due to his close contacts within the institution. The Ripple case’s resolution is far from over, with pending appeals and potential petitions to the court. Clayton highlighted the distinction between securities transactions for capital raising and secondary trading, emphasizing that regulations for capital raising remain rigorous. Meanwhile, the XRP token continues to experience price fluctuations amidst the ongoing legal proceedings.
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