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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/top-securities-expert-explains-sec-had-to-appeal-ripple-situation-decodes-binance-next-move/">Top Securities Expert Explains SEC “Had to Appeal” Ripple Situation, Decodes Binance Next Move</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The complex web of legal battles involving the U.S. Securities and Exchange Commission (SEC) with Ripple Labs, Coinbase, and Binance have become focal points for the crypto community. In a heated debate, Marc Fagel and Deaton opened up on how SEC will be in a bad position if they are denied the interlocutory appeal. The possible outcome will shock you; read on.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-marc-fagel-opens-up-on-sec-s-stance-on-interlocutory-appeal"><strong>Marc Fagel opens Up on SEC’s Stance on Interlocutory Appeal.&nbsp;</strong></h2> 
<p>The former SEC official, Marc Fagel, shared insights into why the SEC is keen on appealing the Ripple ruling. The experienced former official noted two important facts; the first is obvious as the decision greatly threatens the SEC’s broader regulatory program against exchanges. </p> 
<p>Second, he noted that if the concerns were only limited to issuers of securities-related assets and tokens, the SEC might have pursued a different strategy. However, the nature of the ruling necessitated an appeal. Looking at the SEC’s position and Gary Gensler’s hearing going in parallel, this appeal is an ego war for the SEC.&nbsp;</p> 
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   <p lang="en" dir="ltr">Yes, that's why they had to appeal. If the concern were just other issuers of securities/tokens like Ripple, maybe the SEC could try to argue around it; but since the decision threatens its broader program against crypto exchanges, I could see why they'd take a run at an appeal.</p>— Marc Fagel (@Marc_Fagel) <a href="https://twitter.com/Marc_Fagel/status/1705041563611762785?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 22, 2023</a> 
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<h2 class="wp-block-heading" id="strong-binance-pushes-for-dismissal-strong"><strong>Binance Pushes for Dismissal</strong></h2> 
<p>Binance quickly took advantage of the situation; pro-xrp lawyer Bill Morgan reported that Binance had taken a strategic step in its legal battle with the SEC. Based on Ripple’s summary judgment, Binance filed a motion to dismiss the SEC’s case. Moreover, Binance’s legal team cited the Ripple ruling as a precedent, emphasizing that Ripple’s sales of XRP were characterized as blind bid/ask transactions, not investment contracts.</p> 
<p>Hence, it is quite evident how important the Ripple ruling is for Binance. Attorney Morgan highlighted the significance of the Ripple ruling for other crypto-related companies. He questioned whether Binance’s recent argument played a role in the SEC’s decision to pursue an interlocutory appeal. Fagel, an expert in securities litigation, confirmed this view, indicating that the Ripple ruling challenges the SEC’s overarching regulatory framework for exchanges.</p> 
<h3 class="wp-block-heading" id="strong-sec-s-parallel-concerns-strong"><strong>SEC’s Parallel Concerns</strong></h3> 
<p>To be precise, the SEC echoes the same concerns and implications of the Ripple ruling. In its pursuit of an interlocutory appeal, the SEC focuses that the court’s decision on programmatic sales could have a far-reaching impact on its pending litigations against Coinbase and Binance.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-john-deaton-s-has-some-strong-intuition-strong"><strong>John Deaton’s Has Some Strong Intuition</strong></h3> 
<p>All eyes are on the court’s ruling on the SEC’s pending request for an interlocutory appeal. Speculation abounds within the crypto space about the likely outcome. John Deaton, founder of Crypto-Law.US, anticipates that the court will deny the SEC’s request, potentially leading the regulator to file a full appeal next year.</p> 
<p>Meanwhile, XRP’s market performance has demonstrated relative stability amid these legal proceedings. The digital asset trades slightly above the $0.50 support level, with a 24-hour trading range between $0.5130 and $0.4913. The market appears to be closely monitoring developments while maintaining a cautious stance.</p>

Top Securities Expert Explains SEC “Had to Appeal” Ripple Situation, Decodes Binance Next Move

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