Ripple Vs SEC: Lawyers Weigh In On SEC’s XRP Appeal, Settlement, Final Judgment Date

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As an analyst with a background in law and experience following the cryptocurrency industry, I believe the SEC vs. Ripple case is far from over despite the recent developments. The prediction of a final judgment in July by legal experts is plausible, but the possibility of an appeal from the SEC, particularly on the programmatic sales of XRP, remains high.

Ripple vs SEC Legal Update: According to legal experts, the highly anticipated decision in the SEC’s case against Ripple Labs is predicted to be released as early as July, with no significant surprises expected from the US Securities and Exchange Commission (SEC). They also anticipate that the SEC will likely file an appeal following Judge Torres’ summary judgment ruling, which declared that XRP‘s programmatic sales do not equate to securities contracts.

Lawyers Clears Air On Can SEC Appeal Entire Ruling

As a legal analyst, I’ve been following the ongoing case between the Securities and Exchange Commission (SEC) and Ripple closely. According to my analysis of the situation, Fred Rispoli, a pro-XRP lawyer, anticipates that Judge Torres will hand down her ruling on remedies by the end of July or early August. Although it’s intriguing to speculate, I must clarify that this is just an estimation and not a guaranteed outcome. Moreover, Fred added a playful comment suggesting that Judge Torres might surprise us all with an unexpected decision on July 13th. In terms of the financial penalties, there seems to be a significant discrepancy between the SEC’s proposed $2 billion fine and Ripple’s belief that the penalty should not exceed $10 million. As an analyst, I will continue monitoring this situation closely for any updates or developments.

Rispoli added that the case can always be settled beforehand, but the odds are currently at zero percent. SEC and Ripple can also settle arguments not addressed by judges in the ruling. However, the SEC can still move to appeal against programmatic sales of XRP.

In simpler terms, the SEC is unable to challenge their case regarding Institutional Sales against Brad and Chris, as they have already agreed to drop those accusations permanently. However, they retain the right to appeal the charges related to Programmatic Sales for both individuals.

— Fred Rispoli (@freddyriz) June 13, 2024

Marc Fagel, a former SEC securities lawyer, expressed his belief that the Securities and Exchange Commission (SEC) will probably challenge the summary judgment ruling on liability in the XRP case. The judge had determined that XRP is not classified as a security based on the Howey test, but the SEC disagrees with this assessment. Furthermore, Fagel mentioned that the SEC might attempt to appeal the remedies order, although it would be a significant challenge to do so.

XRP Whale Dumps 52M Coins Amid Price Upswing, What’s Next?

Judge Netburn May Not Rule on Expert Witness

In the ongoing XRP lawsuit, both sides present compelling cases regarding the expert witness motion. Notable legal figures like Bill Morgan and Jeremy Hogan believe that Ripple Labs may not prevail in their attempt to dismiss the declaration of expert witness Andrea Fox during the remedies phase.

Expert witness Fred Rispoli noted that Judges Netburn and Torres have the ability to discuss and decide collectively whether the SEC’s additional expert testimony, which is the subject before Judge Netburn, requires a ruling. If Judge Torres reaches a favorable decision for Ripple, he may bypass the need for an expert witness and issue a final judgment on remedies and injunction.

How $4.47B Settlement In Terraform vs SEC Impact XRP Lawsuit?

The crypto community expressed disappointment after Terraform Labs and Do Kwon reached a settlement with the U.S. Securities and Exchange Commission (SEC). Critics argue that the SEC’s enforcement actions against other crypto projects like Ripple and DebtBox have been unjust, fueling concerns over regulatory fairness.

As a crypto investor, I’m deeply concerned about the recent developments between the SEC and Terraform Labs. Both Coinbase Chief Legal Officer Paul Grewal and Ripple Chief Legal Officer Stuart Alderoty have voiced their disappointment with the SEC’s decision to levy a hefty fine on Terraform Labs following the Terra Luna crisis. The aftermath of this crisis saw investors losing an estimated $40 billion in wealth, and the collapse of several crypto firms, creating a domino effect in the industry.

As a crypto investor, I’ve been following the developments in the Terra fraud lawsuit closely. When James Farell, a former SEC lawyer, made the statement that the injunction in this case weakens many of Ripple’s arguments regarding proprietary and proportionality, I took note. Ripple has consistently argued that penalties exceeding $10 million would be disproportionate when compared to previous crypto cases.

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2024-06-13 17:25