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Better Markets CEO on SEC’s Chances in Ripple Case Appeal

Dennis Kelleher, the CEO of Better Markets, has expressed strong confidence in the SEC's ability to win its appeal against Ripple. According to Kelleher, the SEC has a 90% chance of success, which he attributes to his belief that the initial ruling by Judge Analisa Torres misinterpreted established securities laws.

Criticism of Judge Torres’ Ruling

Kelleher argues that Judge Torres’ decision undermines decades of legal principles intended to protect investors, especially those who are less sophisticated. He believes the ruling incorrectly distinguished between institutional sales, which were deemed securities, and programmatic sales, which were not. Kelleher suggests that this interpretation could have broader negative implications for investor protection.

XRP Community and Legal Reactions

Kelleher’s comments have sparked significant debate within the XRP community. Ripple's Chief Legal Officer, Stuart Alderoty, countered by saying that the chances of the SEC winning the appeal are less than 10%, highlighting a stark contrast in perspectives. Legal experts and XRP enthusiasts have also pushed back against Kelleher’s views, pointing out that other judges have supported Torres’ interpretation, which could influence the outcome of the appeal.

Potential Impact on the Crypto Market

The outcome of this case is critical for the broader cryptocurrency market. If the SEC's appeal succeeds, it could set a new precedent for how digital assets are regulated in the United States, potentially leading to stricter oversight and changes in how cryptocurrencies are classified. This could have significant implications for the future of digital assets and their regulation globally.#xrprivals