Ripple vs SEC: The crypto regulator admits defeat?

The SEC does not no more way out, say the pro-crypto law specialists who have followed the case opposing Ripple from the start. Except that the file is not completely closed. Besides the repair phase in which the crypto company could pay a colossal fine, a new clash before the Supreme Court could take place soon between the two protagonists.

Brad Garlinghouse eager to beat the SEC in Supreme Court

John E. Deaton has already announced that the United States Securities and Exchange Commission completely lost in the case between him and the crypto company Ripple. For him, Brad Garlinghouse and his team will have to prepare for the repair phase where they will pay a fine of up to $770 million.

However, as fate would have it, the SEC only requested 20 million dollarss to Ripple. Pro-crypto lawyer Deaton cited a 90/10 advantage in favor of the XRP issuer earlier this week.

But at this point, Ripple doesn’t seem to be out of the woods. According to Corner Gape, the affair could experience a new turn. Following a comparative analysis by lawyer Jeremy Hogan based on a case similar to that of Ripple Labs, a passage before the Supreme Court cannot be ruled out. And it is currently the subject of debate.

The case in question concerns the clash between Morrison and National Australia Bank and highlights the sovereign rights of foreign countries.

It will be interesting because nothing less than the sovereign rights of foreign countries are at stake “, clarified Mr. Hogan.

Continuing, this lawyer asserted that the Supreme Court requires that Ripple token sales must have taken place in the United States. Or at least on an American cryptocurrency exchange. Except that the SEC’s strategies remain unknown. If the crypto regulator decides to extend the scope of its power to other countries besides the USA, the matter will become complicated again. Especially in case of filing of amicus curiae briefs by France, the United Kingdom or Australia.

Still, we’ll agree to note that Brad Garlinghouse is dying to take on the SEC in the Supreme Court, reports Bloomberg. “ We’d love to see the Vegas odds on how this would play out. We are committed to the end », argues the man who was the subject of an accusation by Gary Gensler’s team for irregularity.

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