The post SEC Filing, Ripple CEO Infer No Appeal Against Judge Torres Ruling appeared on BitcoinEthereumNews.com.

XRP Lawsuit: The latest filing by the U.S. Securities and Exchange Commission (SEC) has likely confirmed that the government agency will not appeal Judge Torres’ ruling. While Ripple received a stay order from the court to hold a $125 million payment, CEO Brad Garlinghouse and CLO Stuart Alderoty remain optimistic about no appeal by the SEC. US SEC and Ripple CEO Hints At No Appeal in XRP Lawsuit The US SEC has filed a motion to amend the original complaint in Binance lawsuit. The government agency regrets using the term “crypto asset securities” in crypto cases and decided to drop its use. Notably, the SEC is not advancing the argument that 10 tokens such as Solana (SOL), Cardano (ADA), and POL (previously MATIC) are not securities. However, the agency will continue to allege these tokens as securities in secondary markets, believing that the crypto continue to be offered and sold as investment contracts. As a result, the crypto industry saw a rise in issues related to secondary sales. This signals the regulator will not appeal Judge Torres’ summary judgment on XRP programmatic sales in the lawsuit. Moreover, the judge did not issue a ruling on secondary sales, but stated that “programmatic buyer stood in the same shoes as a secondary market purchaser.” Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty’s Views While the SEC deliberates to appeal against the remedies ruling, Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have confirmed that the XRP lawsuit is over. They do not intend to appeal first, but cross-appeal is more likely. If the agency loses to Ripple in the Second Circuit Court, it will create a binding precedent over other courts. It discourages the SEC from appealing the Ripple case unless the agency has new clarity or evidence. Alderoty in a post…

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Filed under: News - @ September 13, 2024 10:25 pm