The U.S. Securities and Exchange Commission (SEC) has just a few days (deadline is October 7) to appeal a recent ruling in the Ripple case. The court's previous ruling recognized that secondary sales of XRP are not considered securities, which was an important victory for Ripple. However, the SEC can still challenge the decision.
criticism of the SEC is growing, with some believing that the SEC's current rules are inadequate for the evolving #cryptocurrency landscape. Tensions between #Ripple and the SEC are rising as the appeal deadline approaches, and the cryptocurrency community is eagerly awaiting the possibility of a late appeal that could delay the hearing.
As uncertainty over a potential SEC appeal in the Ripple case continues, one curious #XRP holder asked former SEC lawyer Mark Feigel why the SEC might wait until the October 7 deadline to file an appeal.
the user suggested that such a delay might seem exaggerated or even biased; Mr. Feigel rejected the idea that bias plays a role and attributed the delay to the SEC's internal approval process. He also stated that he had no direct knowledge of what the SEC had decided on the matter, but his experience with the SEC suggests that important decisions take time.
Mr. Feigel also noted that the timing of the decision should not worry XRP holders, as the court has already ruled that secondary sales of XRP are not securities. When asked about the slowness of the SEC, Mr. Feigel described his personal frustration with the SEC's decision-making process, noting that it is often slower than he would like it to be.
He added that he initially thought the appeal would be filed for sure, but the situation became unpredictable. He also explained that he does not know or understand how the legal developments will affect the price of XRP, as he is not interested in cryptocurrency trading.
What did you think of this article? Was this article helpful?
Bitcoin's bear market and bull market targets: will it rise above $100,000 or fall below $300,000? Hamster Combat #Token (HMSTR) drops 38%: will this popular gaming cryptocurrency recover or fall further?
Read us at: Compass Investments
