SEC's former lawyer spoken: XRP decision will be challenged
It was claimed that an objection would come from the SEC in the securities case, which partially resulted in Ripple's victory last year. A lawyer who left his position in the SEC stated that the institution would object to XRP's judge's decision that stock market sales were not an investment contract.
Although more than 1 year has passed since the decision of the case judge Analisa Torres, it was stated that the US Securities and Exchange Commission (SEC) would appeal the decision that XRP's stock market sales (sales to the small investor) were not an investment contract.
Fox correspondent Eleanor Terrett from US media gave the news. A lawyer who spoke to Terrett and stated that he had left his post in the SEC said:
“The SEC thinks that it is right in this case and that the decision made is not right. Employees interested in the case also state that they should be appealed.
There is until October 7th
As it will be remembered, the case was concluded last month and Ripple was sentenced to pay a fine of 125 million dollars after a 4-year period. The SEC has the right to appeal the court until October 7.
Ripple supporter lawyer: They lost...
Attorney Jeremy Hougan, who is known for his support for Ripple and social media information during the trial process, said the following in response to reporter Terrett's tweet:
“Of course they will want to appeal, because they are the losers of the case... What the SEC needs to consider next is whether this objection will take back their authority to protect investors. All this is an indication that the SEC has lost control.”