Ripple to Show Its Cards with New Filing

by

As a seasoned crypto investor with a knack for navigating through legal battles in the digital asset space, I find myself closely following the Ripple case. Having weathered numerous market storms and regulatory uncertainties, I have learned to remain cautiously optimistic. The recent developments, such as Ripple’s decision to cross-appeal the SEC’s ruling, give me hope that justice may yet prevail for XRP holders like myself.

According to Fox Business, Ripple, a business specializing in enterprise blockchain technology, is expected to submit its pre-appeal document (Form C) on Thursday.

As a researcher involved in this matter, I am preparing to challenge the portion of the July 2023 decision that classified our institutional sales as non-securities. This is a crucial aspect of our case and will require thorough analysis and compelling arguments.

According to U.Today, Ripple quickly chose to file a cross-appeal following the Securities and Exchange Commission’s (SEC) filing of an appeal earlier this month.

Stuart Alderoty, legal chief at Ripple, expresses optimism that the company will come out on top in the ongoing case. “As a cautious litigator, I don’t like to predict or guarantee outcomes, but I feel quite positive about the outcome at the Second Circuit,” he shared with Fox Business.

Previously, Attorney Fred Rispoli expressed that the outcome of the case hinges on which three judges are assigned to it. Conversely, Alderoty anticipates an unfavorable stance from the Securities and Exchange Commission (SEC).

Earlier this week, Alderoty expressed his belief that Judge Analisa Torres’ decision might expand, potentially leading to a remand as the most favorable outcome for the SEC.

The SEC recently revealed that it would not touch XRP’s legal status in its own Form C, which was filed earlier this month.   

Read More

2024-10-24 18:53