Ripple will pushback against SEC's request for appeal next week, according to Stuart Alderoty
According to Alderoty, the SEC does not currently have the"right" to file an appeal to the XRP ruling, which currently posits that the digital currency is not in itself a security or investment contract. Alderoty highlights how much the SEC needs approval in order to be able to file the appeal that Chairman Gary GenslerThe planned appeal, if granted, will throw a very significant wrench into the Ripple v.
what might come out of such an appeal, the reality is that there is a fair chance the verdict could be upturned in the long term.The ruling from Judge Torres ideally favored both the SEC and Ripple Labs, as institutional sales of XRP were labeled investment contracts, while only secondary sales on exchanges were designated as nonsecurities.
Cardano's Hoskinson Refutes SEC Allegations, XRP Community Excited About Likely Reveal in Ripple Case, BTC Dominance Approaches 50%: Crypto News Digest by U.Today The part that favored the blockchain payments company will form a major precedent if allowed to stand and will serve as a basis for other top digital currencies like Cardano , Solana and Filecoin , already labeled by the SEC as securities, to defend themselves.
With rekindled interest in the case, the community will keep tabs on the jury trial, which will be kickstarted by the second quarter of next year, as
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