Ripple Labs Disagrees with SEC’s Request for Appeal
Ripple Labs, along with its top executives Brad Garlinghouse and Chris Larsen, has expressed its disagreement with the SEC’s request for an interlocutory appeal in court. Ripple argues that the current court ruling does not justify such an appeal and highlights the SEC’s selective regulation of the cryptocurrency industry. There are concerns about the SEC’s application of the Howey test, which determines if a digital asset is a security. This has significant consequences for the ongoing legal battle.
Key Points:
- Ripple believes the court ruling does not warrant an interlocutory appeal
- The SEC’s selective regulation of the cryptocurrency industry raises concerns
- The application of the Howey test is crucial in determining if a digital asset is a security
- Attorney Fred Rispoli argues that the SEC’s request is unlikely to be approved
- Rispoli suggests that the appeal may be passed on to the 2nd Circuit
Hot Take:
The disagreement between Ripple Labs and the SEC regarding the interlocutory appeal highlights the ongoing legal battle and the significant consequences it holds for the cryptocurrency industry. The selective regulation and application of the Howey test by the SEC raise concerns about the fairness and consistency of their approach. Attorney Fred Rispoli’s analysis suggests that the appeal is unlikely to be certified by Judge Torres, particularly due to the potential harm to individuals like Garlinghouse and Larsen. The outcome of this case will have far-reaching implications for the digital asset industry.
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