XRP Lawsuit: Lawyers Claim Ripple Case Favors SEC, Chevron Ruling Irrelevant

#SOFR_Spike #US_Job_Market_Slowdown #MtGoxJulyRepayments #ETH_ETFs_Approval_Predictions #VanEck_SOL_ETFS

Legal Insights on the Ripple Case

As Ripple continues to argue for lighter penalties and injunctions in its lawsuit, former U.S. Securities and Exchange Commission (SEC) lawyers suggest that the remedies phase is in the SEC's favor. They also clarified that the Supreme Court's Chevron deference ruling does not impact the SEC vs. Ripple case or other similar lawsuits.

Chevron Deference Ruling: No Impact on Ripple Case

Former SEC lawyer Marc Fagel stated that the Supreme Court’s ruling on Chevron deference pertains to rulemaking by government agencies, not SEC enforcement actions. He explained that courts defer to an agency when a statute is unclear, but in enforcement actions, courts independently determine if the defendant broke the law without deference to the SEC. This is why Judge Torres issued a mixed summary judgment ruling without deferring to the SEC, indicating that the Chevron ruling has no bearing on the XRP lawsuit.

SEC’s Upper Hand in Remedies Phase

Ex-SEC lawyer James Farrell asserts that the SEC holds an advantage in the remedies phase, given that Judge Torres is aware that $770 million in XRP sales violated securities laws. The ongoing dispute focuses on what percentage of these sales Ripple must pay to the SEC, additional penalties, and whether Ripple continues to violate the law.