Crypto Lawyers Divided on Significance of Court Order Denying SEC Appeal Against Ripple
Crypto lawyers have differing opinions on the recent court order from Judge Analisa Torres, which denied the SEC’s plan to file an interlocutory appeal against Ripple. While some see it as a win for Ripple, others urge caution. Judge Torres based her decision on her previous ruling in favor of Ripple, stating that it did not involve a controlling question of law necessary for an interlocutory appeal.
Interlocutory Appeal Denied
An interlocutory appeal is an appeal made during a trial, and in this case, it pertains to the ongoing proceedings by the SEC against Ripple and its executives. Some lawyers view this decision as a “disaster” for the SEC, while others believe it doesn’t necessarily mean the SEC has lost its appeal entirely.
Caution Advised
Legal experts caution against excessive excitement over the ruling. They point out that while the motion for an appeal was denied, the SEC could still appeal the case after the trial. The decision may have significant implications for Ripple, making a successful future appeal more difficult for the SEC.
Ripple CEO’s Response
Ripple CEO Brad Garlinghouse expressed his enthusiasm about the court’s decision, highlighting that it showed the SEC had failed to prove its case. The trial is currently scheduled for April 2024, and if the SEC wishes to appeal, it must do so after the trial concludes.
Hot Take: Mixed Reactions to Court Order Denying SEC Appeal Against Ripple
The recent court order denying the SEC’s interlocutory appeal against Ripple has sparked divided opinions among crypto lawyers. While some view it as a substantive win for Ripple, others caution against excessive enthusiasm. The decision by Judge Analisa Torres was based on her previous ruling and did not involve a controlling question of law necessary for an appeal. While the SEC can still appeal the case after the trial, legal experts believe the decision may make it more difficult for them to succeed. Ripple CEO Brad Garlinghouse expressed his satisfaction with the court’s decision. Overall, the significance of this order remains a topic of debate among crypto legal professionals.
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