Stuart Alderoty, Rippleâs Legal Director, recently commented on the ongoing legal confrontation between Ripple and the SEC. He assessed the potential outcomes as the appeal process continues, specifically focusing on the Second Circuitâs reaction to Judge Torresâs prior ruling.
What Are the Likely Outcomes of the SEC Appeal?
Alderoty expressed skepticism about the SEC successfully overturning the initial decision. He suggested that the Second Circuit might confirm or expand upon Judge Torresâs ruling but indicated that the likelihood of the case being sent back for further examination is minimal.
How Will Ripple Respond to a Remand?
Should the case be remanded, Ripple intends to invoke its âFair Noticeâ defense, which challenges the clarity regarding the legality of their actions. Alderoty likened the SECâs aggressive pursuit of Ripple to classic literary works, emphasizing the commissionâs unwavering commitment to market regulation.
Key takeaways from Alderotyâs insights include:
- The SECâs chances of success on appeal appear low.
- Rippleâs Fair Notice defense may be pivotal in future proceedings.
- The recent ruling declaring XRP not a security remains crucial for market confidence.
- Regulatory approval for the RLUSD stablecoin could strengthen Rippleâs market position.
Currently, XRP trades at $0.54, reflecting a 3.5% increase over the last week, with its market capitalization at $30 billion and a trading volume of $622 million in the past 24 hours. The outcome of this legal battle is likely to continue influencing both Rippleâs standing and the broader cryptocurrency market dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
