Ex SEC Official Suggests SEC Might Not Appeal Ripple Case
The post Ex SEC Official Suggests SEC Might Not Appeal Ripple Case appeared on BitcoinEthereumNews.com.
Former SEC official Kristina Littman speculates that the SEC might not appeal the Ripple ruling to potentially avoid setting an unfavorable law at the Second Circuit. The SEC’s legal tussle with Ripple is edging close to a potential resolution as the crypto community awaits the court’s final verdict. Consequently, many industry experts, including Ripple CEO Brad Garlinghouse, projected that the court could issue the final decision before the end of Summer 2024. Nonetheless, the major question remains whether the SEC would appeal the initial ruling, which gave Ripple a partial victory in July 2023, after the upcoming final verdict. SEC Might Not Appeal Interestingly, Kristina Littman, the former head of the SEC’s Enforcement’s Cyber Unit, recently joined the debate regarding a potential appeal in the Ripple lawsuit. The former SEC official said there are speculations that the SEC might not appeal the initial ruling in the Ripple case, which characterized the company’s programmatic sales and other distributions of XRP as non-security. She made this known during a recent conference titled, ‘Digital Assets and Cryptocurrency – Regulation and Enforcement of Exchanges, Crypto Lending, DeFi, NFTs and More.’ Speaking at the event, Littman suggested that the SEC could leave the Ripple ruling as a district court opinion instead of appealing the verdict, as such an appeal would risk the potential establishment of an unfavorable precedent at the Second Circuit in the event of a loss. “There are some speculations that the SEC might just let the Ripple opinion stay there as a district court opinion and not risk elevating it to a circuit level where they could potentially elicit bad law when they have favorable rulings in the aftermath of their obligations,” Littman remarked. Furthermore, she recounted how the ruling judge in the SEC v. TerraForm Labs case rejected the Ripple reasoning.…
Filed under: News - @ June 20, 2024 1:16 pm