The US SEC filed another appeal against Ripple as the asset closed at $0.55.
Ripple CLO believes that the court will either affirm Judge Torres or expand her ruling.
Alderoty compared the SEC appeal to Moby Dick meeting My Cousin Vinny with Gary Gensler as Captain Ahab.
The SEC has appealed the recent court decision in its case against Ripple. Ripple Chief Legal Officer Stuart Alderoty expressed confidence that the U.S. Court of Appeals for the Second Circuit will uphold or even expand the original ruling, which largely favored Ripple. The ongoing legal battle, which began in 2020, centers on whether XRP is a security.
In a post on X (formerly Twitter), Alderoty suggested the SECâs best option is to seek a remand, sending the case back to Judge Torres for further proceedings. He highlighted that a remand would allow Ripple to reintroduce its âFair Noticeâ defense, which questions whether the SEC provided sufficient clarity on XRPâs regulatory status. Alderoty remarked:
Read also: SEC Leaves Key XRP Ruling Unchallenged, but Ripple Prepares Cross-Appeal
âThe SEC could end up arguing to Judge Torres that she wasnât a person of âordinary intelligenceâŠ
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