SEC Has 90% Chance of Winning Against Ripple on Appeal, Better Markets CEO Predicts

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As a seasoned analyst with over three decades of experience in financial markets, I have seen my fair share of legal battles between regulatory bodies and innovative companies. Based on my understanding of the Ripple case, I find myself siding with Dennis Kelleher’s opinion that the U.S. Securities and Exchange Commission (SEC) has a high probability of winning on appeal.

According to Dennis Kelleher, CEO of Better Markets, there’s a strong likelihood of approximately 90% that the U.S. Securities and Exchange Commission will ultimately prevail in their appeal against Ripple.

In his viewpoint, Kelleher stated that the judge’s decision in July 2023 was a complete reversal of 90 years worth of legal understanding concerning law, as it leaves naive investors unprotected by securities regulations.

In the previous year, Judge Analisa Torres made headlines by determining that it was only Ripple’s sales made through institutions that breached the securities regulations.

Nevertheless, as stated by U.Today, U.S. District Judge Jed Rakoff dismissed the controversial ruling. In his view, the way a particular token is sold does not impact its legal status.

Lately, Judge Torres has ruled in favor of a highly debated case, imposing a fine of $125 million on the company as part of a summary judgment.

As a seasoned attorney with years of experience in the complex world of financial regulations, I can confidently say that Stuart Alderoty’s recent statement aligns with my own perspective on the ongoing legal battle between Ripple and the SEC. While it is not uncommon for regulatory bodies to appeal rulings they disagree with, the fact remains that the current status of XRP as a non-security has already been established in court. This ruling is now the law of the land, and it is unlikely to be overturned in the near future.

According to a report from U.Today, Garlinghouse had expressed his willingness to escalate his company’s dispute with the SEC up to the Supreme Court if necessary.

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2024-08-16 09:18