Your Guide to the Ripple vs SEC Lawsuit Updates 🚀
As the SEC vs Ripple legal battle enters its final stages, the next steps are being carefully considered by experts and lawyers. The much-awaited final verdict is anticipated to be delivered in July, barring any unforeseen developments from the SEC. The recent ruling by Judge Torres, which stated that XRP’s programmatic sales do not qualify as security contracts, has set the stage for future legal proceedings.
Experts’ Analysis on Appeal Possibilities
Expert opinions regarding the potential appeal by the SEC vary, with some predicting a challenge to the summary judgment ruling. Pro-XRP lawyer Fred Rispoli anticipates a decision on remedies by the end of July or early August, potentially on July 13. The SEC has been pushing for a hefty $2 billion penalty, while Ripple argues for a much lower sum of $10 million.
- Rispoli believes a pre-judgment settlement is unlikely, but there is still a chance for unresolved issues to be addressed.
- The SEC can appeal the ruling on programmatic sales but cannot contest the dismissal of claims against Ripple executives Brad Garlinghouse and Chris Larsen.
Potential Grounds for SEC Appeal
Former SEC securities lawyer Marc Fagel suggests that the SEC is likely to challenge the interpretation of the Howey test applied by Judge Torres in the XRP liability ruling. While an appeal on the remedies order is feasible, it is not considered probable. The issue of the expert witness motion remains contentious, with differing opinions on the outcome.
- Experts like Bill Morgan and Jeremy Hogan believe Ripple may face challenges in excluding expert testimony.
- If Judge Torres rules in favor of Ripple, the expert witness issue may not be addressed.
Impact of Terraform Labs Settlement
The recent settlement between Terraform Labs and the SEC has reverberated through the crypto community, particularly in relation to the SEC vs Ripple lawsuit. Terraform and its co-founder Do Kwon were fined $4.47 billion, sparking debate within the industry. Critics argue that the SEC’s substantial penalty lacks proportionality and fails to provide meaningful relief to victims of fraud.
- The crisis at Terra Luna led to a significant loss in investor wealth, prompting scrutiny of the SEC’s enforcement actions.
- Former SEC lawyer James Farrel notes similarities between the Terraform case and Ripple’s arguments regarding penalty proportionality.
Your Takeaway from the Ripple vs SEC Legal Battle 🌟
Stay informed about the latest developments in the SEC vs Ripple lawsuit as the countdown to the final verdict continues. With experts weighing in on potential outcomes and appeal prospects, the crypto community is eagerly awaiting the resolution of this high-stakes legal battle.
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