- Ripple recently received a partial ruling from the law court concerning its securities status. However, the Securities and Exchange Commission wants to appeal the verdict. They disagree with court.
- On the other hand, Ripple Labs’ legal chief says all victory will belong to them even if the SEC should appeal. Ripple legal chief argues SEC appeal will further improve their argument.
Ripple Legal Team and the Securities and Exchange Commission continue an ongoing war. Recently, the Securities and Exchange Commission threatened to appeal. Apparently, the SEC wants to appeal the partial ruling which went in Ripple’s favor. But Ripple’s legal team remains confident. One of their legal chiefs recently made some powerful statements. According to him, Ripple will emerge victorious regardless of the SEC appeal.
Ripple Labs Chief Says SEC is Misguided
Ripple’s legal chief Stuart Alderoty says no matter what the SEC does. It will always fall in Ripple’s favor. He made this statement in view of a potential appeal by the Securities and Exchange Commission. Furthermore, he reiterated that their win remains for the company and the crypto industry. While speaking on TechCrunch podcasts, Alderoty spoke to a large extent about the SEC.
He said an appeal from the SEC would further make the judges rule in XRP’s favor. He said:
“We think the judge got that right, and we think that was a faithful application of the law, and I think a court of appeals will not only affirm that but maybe even amplify that to even a greater extent.”
In fact, the climax was when he said the SEC was misguided. “Our case and the decision rendered by our judge will provide comfort to other judges that the SEC is just misguided,” he added.
Ripple Labs Legal Team Blames SEC Over Downfall of Crypto in the US
Additionally, Ripple’s legal chief made a case for the United States. According to him, the SEC is why there’s unrest in the US crypto industry. Hence, many crypto firms are moving to other locations like the Middle East.
But Ripple’s legal chief Stuart Alderoty is quite right with his statement. Over the past few months, many crypto firms have been moving to Europe and the Middle East. For instance, Bitget recently moved to Dubai.
SEC Appeal to Court
Despite what the crypto industry says, the SEC continues to keep up with the fight. They want to appeal the case so the law court will change its position on Ripple. In fact, Gary Gensler expressed his disappointment with the ruling.
Nevertheless, the SEC might go in an appeal. Already, SEC lawyers said the court made a wrong ruling on Ripple Labs. On the other hand, it is obvious they expected a different scenario.
In conclusion, the case between the SEC and Ripple Labs continues to drag on. Ripple made some breakthroughs with the recent ruling, but the SEC wants an appeal. However, Ripple Labs lawyers remain confident. Already, their lawyer expressed confidence in any SEC appeal going in their favor.
