The post Ripple Could Defeat the SEC If This Happens appeared on BitcoinEthereumNews.com.

Legal expert Fred Rispoli has stated that Ripple has a better chance of winning the US Securities and Exchange’s (SEC) appeal in their lawsuit if an unbiased panel is sitting on the case. However, he claimed that the Commission would likely have a 70% to 80% chance of winning if the Judges who sit on the case have a long history of agreeing with the government. How Ripple Could Defeat The SEC In an interview on the Thinking Crypto podcast, Rispoli mentioned that the odds would be 70% to 30% in favor of Ripple if the 2nd Circuit Court of Appeal Judges were unbiased. The lawyer noted that the “sad part” about the probabilities of who will win is that it hinges on who the three Judges that get assigned the case are. CoinGape reported that the US SEC is appealing Judge Analisa Torres’s final judgment on August 7. However, the XRP community has continued questioning whether the appeal will only apply to the $125 million penalty or extend to Judge Torres’ ruling on the programmatic sales last year. Fred Rispoli gave his opinion, stating that the SEC will likely appeal everything. He noted that the notice of appeal was about the summary judgment and not just the penalty ruling. As such, the Commission can appeal any of the rulings included in the summary judgment. The legal expert believes that the Commission will focus on programmatic sales, which involves Judge Torres ruling that XRP isn’t a security in itself. He added that they will also seek a higher fine than the $125 million that Judge Torres awarded. Fred Rispoli noted that the 2nd Circuit’s potential ruling on programmatic sales is most important for XRP holders and the broader crypto community. According to him, the SEC will move to cite the court’s…

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Filed under: News - @ October 5, 2024 8:09 pm