As a seasoned legal observer with years of immersion in the cryptocurrency landscape, I find myself both intrigued and amused by Ripple’s latest move against the SEC. Having closely followed this case since its inception, I must admit that the back-and-forth between these two parties has become akin to a modern-day David vs. Goliath tale – but with more legal jargon and less slingshots.
Through a recent disclosure, Ripple‘s top legal executive announced that they have submitted a counter-appeal in their ongoing dispute with the U.S. Securities and Exchange Commission (SEC). This fresh move adds an intriguing layer to the legal saga that has been unfolding since December 2022.
Ripple Files Cross-Appeal Against SEC
In a recent post, Alderoty announced they have submitted a counter-argument appeal to the U.S. Securities and Exchange Commission (SEC) today. He explained that this move is taken to leave no stone unturned, including asserting the stance that an investment contract cannot be valid without essential rights and duties involved.
The representative of Ripple (CLO) pointed out that the Securities and Exchange Commission (SEC) has stated they will not challenge the decision classifying XRP as non-security. Consequently, any cross-appeal by Ripple won’t question this matter. He further emphasized that this ruling remains valid, and an appeal on other matters doesn’t alter it.
Stuart Alderoty recently stated that initially, the U.S. SEC attempted to contest Judge Analisa Torres’ decisions regarding Ripple’s XRP sales not being classified as securities. He further mentioned that the SEC might challenge this ruling once more. However, he expressed his belief that they will lose both times in their appeals.
Alderoty concluded by saying,
Anticipating the moment when the Court of Appeals will decisively end Gensler’s ill-informed crusade against our sector, we eagerly await it.
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2024-10-10 19:41