Recently, the SEC lost its lawsuit against the crypto firm Ripple regarding the securities nature of XRP. At the latest news, the regulator is studying the possibility of appealing. A procedure that would not be immediately according to the boss of Ripple.
SEC forced to wait a while to appeal
Judge Analissa Torres recently ruled in favor of crypto firm Ripple regarding XRP. According to the woman in law, the company’s native crypto is not a security. A decision that does not agree with the SEC and which we think it could appeal.
For Brad Garlinghouse, CEO of Ripple, the possibility of such a move is hypothetical for the moment. In fact, the manager thinks that the regulator will have to wait a long time before they can appeal.
The boss did not explain why he thinks the financial regulator would wait a while before initiating an appeal. He nevertheless believes that by initiating it, the SEC would only bring more credence to the judicial decision.
On the other hand, a possible appeal against the verdict of judge Analissa Torres would not be particularly upsetting for Ripple. This, because it should only concern the second part of the court decision.
According to this, XRP would be considered a security in the context of a sale involving institutional investors. An aspect that the leader of Ripple personally considers to be minor.
Most important, in his view, is the recognition that XRP is not a security under US law. An event that is all the more significant as it is the first time that the SEC has lost a lawsuit related to cryptos.
“In law, the law of the land currently recognizes that XRP is not a security. Until the SEC has the opportunity to appeal, which would take years, frankly, we’re very optimistic,” said the boss.
Could this optimism reach other crypto companies facing the wrath of the SEC? Some analysts believe that the latter’s loss to Ripple is potentially the first of many.
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