Advertisement
AD

Main navigation

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

Advertisement
Fri, 16/08/2024 - 5:41
SEC Has 90% Chance of Winning Against Ripple on Appeal, Better Markets CEO Predicts
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Better Markets CEO Dennis Kelleher believes that the U.S. Securities and Exchange Commission has a 90% chance of eventually winning the Ripple case on appeal. 

Advertisement

Kelleher opined that the judge had gotten "90 years of law upside down" with the July 2023 ruling, which deprives unsophisticated investors of the protection offered by securities laws. 

Last year, Judge Analisa Torres famously ruled that only Ripple's institutional sales violated the securities laws. 

However, the controversial ruling was rejected by U.S. District Judge Jed Rakoff. As reported by U.Today, Rakoff opined that the method of sale should not affect the legal status of a certain token.

Advertisement

Related

Recently, Judge Torres issued a summary judgment in the much-talked-about case, ordering the company to fork out $125 million worth of penalties. 

Earlier this week, Stuart Alderoty, Ripple's top lawyer, stated that he would not be surprised if the SEC ends up appealing the ruling. However, he is certain that XRP's legal status is not going to be affected by the recent ruling since this is already the law of the land.

Related

As reported by U.Today, Garlinghouse previously stated that he would be ready to take his company's fight with the SEC all the way to the Supreme Court. 

At the same time, it is likely that the recent ruling is going to positively affect other crypto cases. Bloomberg's analysts believe that Coinbase, the leading US crypto exchange that is currently fighting the SEC, could benefit from the positive ruling.  

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD