Insight into Top Lawyers’ Views on SEC’s Ripple Case Appeal: Why Victory May Not Be Certain
Jeremy Hogan, the managing partner at Hogan & Hogan, raises doubts about the potential success of the SEC’s appeal in the ongoing Ripple case. He cautions that the regulatory agency’s efforts could lead to unforeseen complications, prolonging the legal dispute.
Understanding the Top Lawyer’s Perspective on SEC’s Appeal Strategy
– Hogan suggests that even if the SEC emerges victorious in the appeal, the case would be remanded to the trial court for additional fact-finding.
– This scenario implies that the legal proceedings could stretch on without a clear-cut win for the SEC.
Analysis of Judge Torres’ Ruling in the Ripple Case
– In July 2023, Judge Analisa Torres delivered a ruling that delivered mixed outcomes for the SEC.
– She affirmed that the XRP tokens sold to retail investors on exchanges are not deemed as securities, dealing a blow to the SEC.
– However, Torres also found that Ripple’s sale of XRP to institutional investors violated federal securities laws, providing partial relief to the SEC.
Unraveling the New Ambiguity in the Ripple Case
– Kristina Littman, a former SEC Division Chief, proposed that the SEC might refrain from challenging Judge Torres’s ruling to avoid an unfavorable review at the circuit level.
– This decision is further complicated by US District Judge Jed Rakoff’s differing stance in the SEC’s case against Terraform Labs.
Future Prospects in the Ripple-SEC Legal Battle
– The SEC faces the critical decision of whether to contest Torres’s ruling, while the case enters the remedies phase with Ripple striving to lessen fines and penalties.
– Despite hints from SEC Chair Gray Gensler about a potential appeal, the final verdict remains pending.
The SEC’s determination on appealing Judge Torres’ ruling could significantly shape the trajectory of cryptocurrency regulation going forward.
The post SEC Likely to Face Setback in Ripple Case Appeal: Why Top Lawyers Think So appeared first on Coinpedia Fintech News
Hot Take: Final Thoughts for the Crypto Enthusiast
Stay tuned to witness how the SEC’s decision on the Ripple case appeal unfolds, as it could have far-reaching implications for the cryptocurrency industry.
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