The Ripple vs SEC Lawsuit: Ripple Expects a Stronger Position in the Appeal Process
Hoger beroep SEC geen bedreiging voor XRP
The recent ruling in the lawsuit between Ripple (XRP) and the Security and Exchange Commission (SEC) was celebrated by the crypto community. However, it is anticipated that the SEC is preparing for an appeal. Stuart Alderoty, Chief Legal Officer of Ripple, believes that an appeal could further strengthen Ripple’s victory.
Background and Implications of the Ruling
The judge ruled that XRP tokens, when traded on crypto exchanges, are not considered securities. However, the sale of XRP tokens to institutions in the past falls under the securities category. Ripple’s CEO, Brad Garlinghouse, emphasized that the first part of the ruling is more significant than the second. According to him, the judgement represents a complete victory for Ripple.
SEC’s Disagreement and Potential Appeal
The SEC expressed its regret over the ruling and disagreement with it. The SEC’s lawyers hinted at exploring the possibility of an appeal. Initially, there was doubt about the likelihood of an appeal, but recent developments suggest otherwise. It is important to note that an appeal process can take years before reaching a new verdict, while the current ruling remains in effect.
Ripple advocaat: Veel werk aan de winkel in crypto
In a podcast interview, Alderoty expressed confidence in the court’s ruling and the potential outcome of an appeal:
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“We believe the judge made the right decision and acted within the law. Furthermore, we think an appeal will not only confirm this but may even strengthen it.”
Regulatory Challenges in the Crypto Industry
Despite the optimism surrounding the lawsuit, Alderoty acknowledges that there is still a significant amount of work to be done concerning regulations in the crypto industry. He believes that the SEC’s inadequate actions have contributed to the legislative lag that the US crypto sector faces compared to the rest of the world.
“We still need a rational and comprehensible legislative framework for crypto in the United States. Due to the SEC’s failure to enforce the law, the US has fallen behind the rest of the world.”
The Ripple vs SEC lawsuit has been a topic of great interest in the crypto community. While the recent ruling favored Ripple, the SEC’s potential appeal introduces uncertainty. Nevertheless, Ripple remains confident in the strength of its case and the potential positive impact of an appeal. In the larger context, the lawsuit highlights the need for comprehensive and clear regulations in the crypto industry to ensure its growth and global competitiveness.
Tags: Regulatie, Ripple, SEC, XRP