The Legal Battle Between SEC and Ripple Labs Continues
The legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs shows no signs of ending soon, with recent developments suggesting that the feud could extend into next year.
The SEC Has No Right to Appeal Yet
- Ripple’s Chief Legal Officer, Stuart Alderoty, argues that the SEC does not have the right to appeal against Judge Torres’s partial summary judgment in favor of Ripple.
- The SEC is seeking permission from the court to file an interlocutory appeal instead.
- Ripple will respond to the SEC’s filing next week.
The SEC Is Not Backing Down
- Despite speculation that the SEC might accept defeat, the regulator has shown it is not backing down.
- The SEC remains adamant that Ripple’s XRP is a security.
- The possibility of the SEC asking the court to stay Judge Torres’s ruling while the appeal is ongoing exists.
A Setback for Ripple
- The SEC’s appeal represents a setback for Ripple and its community.
- However, if Ripple wins the appeal, it could strengthen their position in the upcoming jury trial.
- Pro-XRP lawyer John Deaton is confident in Ripple’s victory, even in an SEC appeal.
Hot Take
The legal battle between the SEC and Ripple continues to be a contentious issue. While the SEC seeks to appeal Judge Torres’s ruling, Ripple remains confident in their position. The outcome of this battle will have significant implications for the future of Ripple’s XRP and the wider crypto community.
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