According to TechFlow, Ripple’s chief legal officer Stuart Alderoty posted on social media that “the SEC’s decision to appeal is disappointing, but not surprising. It is only delaying a situation that has already been thoroughly embarrassing for the agency. The court has rejected the SEC’s suggestion that Ripple acted recklessly. There are no allegations of fraud in the case, and of course there are no victims or losses.
Instead of faithfully enforcing the law, the SEC, under current Chairman Gary Gensler, continues to wage a litigation war against the crypto industry. We are evaluating whether to file a countersuit. Regardless, the SEC’s lawsuit was irrational and misguided from the outset, and we are ready to prove it again in the Court of Appeals (again, leading the way for the industry).
Is it a coincidence that the SEC’s enforcement chief resigned about an hour before this news broke?
