The post Ripple News: Why is the SEC Delaying the Appeal? Important Doubts Cleared! appeared on BitcoinEthereumNews.com.

The post Ripple News: Why is the SEC Delaying the Appeal? Important Doubts Cleared! appeared first on Coinpedia Fintech News The ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is heating up once again. The SEC is reportedly gearing up to challenge the summary judgment made by Judge Torres. Legal experts, including John Deaton, who represents 75,000 XRP holders, have been analyzing the potential implications of an appeal.  Many believe the SEC’s main motivation for this move is their dissatisfaction with the court’s decision regarding XRP sales. However, some legal professionals argue that overturning the ruling may be difficult. An analyst suggested that XRP insiders likely know whether the SEC will appeal the lawsuit, but Marc Fagel, a former SEC lawyer clarified that this is not the case. When asked if the SEC needs to vote on the decision to appeal, the lawyer, Marc, explained, “I believe they do. Which helps explain why it’s taking so long; that’s never a quick process.” A user asked Marc how the SEC could argue that Judge Torres’ ruling was wrong when the SEC failed to prove that buyers had any contact with Ripple’s promotional materials or saw XRP as an investment opportunity tied to Ripple. The user pointed out that since buyers didn’t know who they were buying from, it made the SEC’s burden of proof even bigger, especially since key expert testimony was excluded.  3/ But beyond the evidence, I think the decision fundamentally counters the intent of the 1933 Act. By her logic, any securities issuer could avoid registration simply by delivering the asset to a third-party intermediary for resale. That makes no sense. Nor does the ultimate — Marc Fagel (@Marc_Fagel) September 29, 2024 Marc agreed, saying that the court’s logic suggests a reasonable…

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Filed under: News - @ September 29, 2024 5:11 am