The SEC is considering appealing the July 2023 Ripple ruling on programmatic sales of XRP.
A former SEC lawyer claims the agency believes the decision was legally flawed.
John Deaton argues an appeal could be unnecessary and a waste of taxpayer money.
The U.S. Securities and Exchange Commission (SEC) may appeal Judge Analisa Torres’s July 2023 ruling in the Ripple case, according to reports.
Fox Business correspondent Eleanor Terrett detailed on X that a former SEC lawyer informed her that many within the agency believe the ruling concerning Ripple’s XRP programmatic sales is “legally incorrect” and should be contested.
Notably, the deadline for filing the appeal is October 7, leaving the SEC with a short window to act. Judge Torres’s ruling last year determined that Ripple’s programmatic sales of XRP did not constitute the sale of unregistered securities.
SEC Believes Ruling Was “Not Good Law”
A former SEC lawyer, speaking to Eleanor Terrett, said, “Everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed.”
The agency’s apparent dissatisfaction with the decision cente…
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