Ripple Legal Chief Discusses Potential SEC Appeal After Final Ruling in $XRP Case #XRPGoal #EarnFreeCrypto2024

Ripple’s chief legal officer has addressed the possibility of an appeal by the U.S. Securities and Exchange Commission (SEC) following the $125 million final judgment in the $XRP case. He suggested that if the Biden-Harris administration is committed to resetting its stance on crypto, the securities regulator should not seek to appeal. He noted that the SEC “lost on everything” important, highlighting that the court firmly rejected the notion that $XRP itself could be classified as a security

Ripple Legal Chief on Potential SEC Appeal of Final Judgment in XRP Case

Ripple’s chief legal officer, Stuart Alderoty, discussed the outcome of the case brought against Ripple by the U.S. Securities and Exchange Commission (SEC) over XRP in an interview with CBNB last week. This followed the final judgment in which District Judge Analisa Torres partially granted the SEC’s motion for remedies against Ripple, imposing a $125 million civil penalty.

“We’re feeling really good about it,” Alderoty said of the judgment. “Ripple, when it was first sued by the SEC almost four years ago, said that we were going to defend this case, not only on our own behalf but on behalf of the entire crypto industry. This administration, with this SEC, under this chair, has clearly taken an anti-crypto stance and has engaged in a war on crypto that’s playing out in the courts.”

The Ripple legal chief further clarified: “What the court said is that a token is never a security in and of itself, just like a bar of gold is never a security. You can certainly package commodities or virtual currencies and sell them as securities, but they’re not securities in themselves, and that’s the core clarity that we sought in this case — establishing that XRP is not in and of itself a security is now the law of the land.” He further explained