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Ripple Case: SEC Veteran Insider Exposes Main Motive of Appeal

Thu, 08/10/2023 - 09:30
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Gamza Khanzadaev
Veteran insider reveals why challenging Ripple is high-stakes gamble
Ripple Case: SEC Veteran Insider Exposes Main Motive of Appeal
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In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) has announced its intention to appeal the recent ruling in the Ripple case. The case, which centers on the alleged illegal sale of XRP by Ripple, took a surprising turn when the financial authority signaled its intention to challenge the recent case verdict.

Ripple Drama Continues as SEC Strikes Back with Appeal Request

The decision to appeal has ignited speculation about the agency's underlying objectives. Marc Fagel, a seasoned legal veteran and former SEC official, offered his insightful perspective on the matter. The expert suggested that the Commission's primary concern might extend beyond the immediate Ripple case and into the realm of broader investigations, particularly those focused on cryptocurrency exchanges like Binance and Coinbase.

Fagel's analysis underscores the delicate balance the SEC is navigating. While the appellate court's decision could potentially validate the district court's ruling, setting an impactful precedent that may hinder future investigations, it also offers a chance to establish a binding legal precedent that could guide the SEC's actions moving forward.

This pivotal moment has fueled intense debate in legal circles. Fagel notes that the SEC's risk is undeniable as the appeals court could either reinforce the district court's stance, dealing a severe blow to the agency, or provide the much-sought-after clarity, which is crucial for their regulatory endeavors.

Ripple v. SEC Appeal Will Be Announced This Week, If It Happens: Pro-XRP Lawyer

As the Ripple case continues to captivate the financial and legal landscapes, the appeal's outcome is anticipated to shape the landscape of crypto-related legal battles and hopefully pave the way for a more defined regulatory framework.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.