The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) appears to be drawing to a close. Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed optimism about a resolution within the next 24 days.
The recent court ruling, which imposed a $125 million fine on Ripple, has sparked speculation about the SEC’s next move. While the possibility of an appeal looms large, Alderoty remains confident that the regulator’s chances of overturning the decision are slim.
“The SEC has a less than 10% chance of winning an appeal in the second circuit,” Alderoty stated. “Historically, the chances of reversing a lower court’s decision in this circuit are minimal.”
Despite this, the Ripple executive acknowledged the SEC’s unpredictable behavior, particularly in the realm of crypto regulation. He cautioned against underestimating the regulator’s potential to appeal the ruling.
The court’s decision affirming that XRP sales on secondary markets do not constitute securities under current law is a significant victory for Ripple. This landmark ruling could have far-reaching implications for the cryptocurrency industry.
As the Ripple lawsuit nears its end, attention is shifting to the potential for an XRP ETF. Major cryptocurrency exchanges, including Binance US, have expressed interest in the asset, suggesting a growing appetite for XRP products.
Also Read: Ripple And SBI Digital Community Unite To Drive XRP Adoption
The XRP price has experienced volatility in recent weeks, reflecting the broader market conditions. While the $125 million penalty initially caused a price surge, the token has since retreated slightly.
With a potential resolution on the horizon, the cryptocurrency community is eagerly awaiting the outcome of the Ripple vs. SEC case. The result could have a profound impact on the regulatory landscape for digital assets and the future of XRP.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
