Circuit

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Ripple Chief Legal Officer <a href="https://twitter.com/s_alderoty/status/1683893887570681856" rel="noopener noreferrer nofollow">Stuart Alderoty</a> highlights the company's readiness in light of a probable SEC appeal. 
Over the weekend, the SEC indicated it was considering an appeal in the Ripple case, according to a recent filing in the Terraform Labs/Do Kwon case. 
<blockquote class="twitter-tweet"> 
 30+ years as a lawyer, and crypto is, without a doubt, the most fascinating industry I’ve been a part of.Thank you <a href="https://twitter.com/jacqmelinek?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@jacqmelinek</a> for having me on to discuss what the lawsuit decision means, where the SEC has jurisdiction (and more importantly where it doesn’t), and much more. <a href="https://t.co/lozorZeTyL" rel="noopener noreferrer nofollow">https://t.co/lozorZeTyL</a>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1683893887570681856?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2023</a> 
</blockquote> 
Speaking on a TechCrunch podcast, Alderoty says Ripple will not shy away from the SEC's likely appeal. He voices the belief that the recent ruling was a faithful application of the law and that the judge got this right. 
Alderoty continued by saying that a ruling from the court of appeals would not only affirm this but maybe even amplify it further. He added that the <a href="https://u.today/ripple-lawsuit-sec-might-be-hesitant-to-go-after-similar-cases-law-veteran-says-why" rel="noopener noreferrer nofollow">Ripple case</a> could provide clarity for other pending lawsuits, and the recent decision may well suggest that the SEC is just misguided. 
The ruling in the Ripple case concluded that while selling XRP to retail investors on exchanges did not violate the SEC's guidelines, sales directly to institutional <a href="https://u.today/ripple-marks-significant-growth-in-singapore-with-five-times-volume-spike" rel="noopener noreferrer nofollow">investors</a> did. This was largely regarded as a triumph for the cryptocurrency industry. 
<h2 id="four-potential-options-legal-expert">Four potential options: Legal expert</h2> 
As the debate on what is next in the Ripple-SEC lawsuit lingers, Legal expert "<a href="https://twitter.com/MetaLawMan/status/1683817509454069762" rel="noopener noreferrer nofollow">MetaLawMan</a>" on Twitter hints at four potential options going forward. 
The first option is that the SEC might file for an interlocutory appeal, given that the final ruling is yet to be made. Although there is no deadline for the initial request, it should be made quickly and, as a general rule, within 30 days. The SEC would then have 10 days to ask the 2nd Circuit if Judge Torres granted the request. 
In this regard, he expects the SEC to file a request for interlocutory appeal within the next two weeks, as the likelihood of this option remains relatively high. 
<a href="https://u.today/ripple-lawsuit-sec-might-be-hesitant-to-go-after-similar-cases-law-veteran-says-why" rel="noopener noreferrer nofollow">card</a> 
The second is that the SEC goes through with a trial on its claim against Ripple executives Chris Larsen and Brad Garlinghouse and then files a regular appeal. The third option would be for the SEC to drop its claims against the Ripple executives and file an immediate appeal. The last option, which remains quite unlikely, is a settlement. 
Whichever it may be, CryptoLaw founder John Deaton believes an appeal is not even close to being a setback, as it might take at least two years before such a decision is made.

Ripple Chief Legal Officer Says Company Ready for Likely SEC Appeal

Table of Contents

U_Today

Other articles published on Jul 26, 2023

US Presidential Candidate Robert F. Kennedy Jr. Reveals He Bought Bitcoin

On-Chain Games and Crypto-Native Social Apps Among Paradigm's 10 Most Interested Areas

Bitcoin Price Holds $29k Support Amid FOMC Impact

A subtle change in Elon Musk's twitter bio made a big deal!

New Version of TrustChain Blockchain by TE-FOOD Enters Testing Phase

Coinbase: "Rising Dogecoin Price Complicates Elon Musk's Job!"

Join our free newsletter for daily crypto updates!