United

Circuit

<ul class="news-points"> 
 <li>A US court refused to reconsider its decision in the SEC vs. Govil case.</li> 
 <li>As per Ripple’s legal chief, this will benefit the firm in the XRP lawsuit. </li> 
 <li>The regulator seeks to extract $2 billion from Ripple in “fines and penalties.”</li> 
</ul> 
The United States Securities and Exchange Commission (SEC) took a loss in a lawsuit against Aron Govil, and according to the buzz on social media platform X (formerly known as Twitter), blockchain payments firm Ripple will reap the benefits from the decision.&nbsp; 
As<a href="https://twitter.com/s_alderoty/status/1778445159870726511" target="_blank" rel="nofollow"> pointed out</a> by Stuart Alderoty, the<a href="https://coinedition.com/ripple-chief-legal-officer-critiques-secs-approach-amidst-coinbase-ruling/"> Chief Legal Officer at Ripple</a>, the Second Circuit Court of Appeals refused to reconsider its decision in the SEC vs. Govil case, maintaining the fact that “if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller.” 
Alderoty<a href="https://twitter.com/s_alderoty/status/1720491980910714923" target="_blank" rel="nofollow"> stated</a> last year that “the SEC can’t ask for a crippling disgorgement” if it can’t prove that the investors suffered actual financial harm. On the other hand, an Australia-based pro-crypto attorney took to X to weigh in: 
<blockquote class="wp-block-quote"> 
 But the SEC relies on Govil as authority for the proposition that if&nbsp; investors suffer financial loss or pecuniary harm then disgorgement is measu…
</blockquote>
The post <a href="https://coinedition.com/sec-takes-a-loss-in-lawsuit-against-govil-ripple-to-reap-the-benefits/">SEC Takes a Loss in Lawsuit Against Govil, Ripple to Reap the Benefits</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

SEC Takes a Loss in Lawsuit Against Govil, Ripple to Reap the Benefits

Coin Edition

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