<p>Ripple's Chief Legal Officer, Stuart Alderoty, announced on X that the<a href="https://coinpedia.org/news/ripple-files-cross-appeal-against-sec-will-xrp-finally-win/" target="_blank" rel="noreferrer noopener"> company has filed a cross-appeal</a> in its legal case against the U.S. Securities and Exchange Commission (SEC). This action follows the <a href="https://coinpedia.org/news/sec-appeals-ripple-ruling-whats-next-for-ripple-vs-sec-lawsuit/" target="_blank" rel="noreferrer noopener">SEC's appeal last week to the U.S. Court</a> of Appeals, which seeks to overturn parts of District Judge Analisa Torres' ruling related to XRP.</p>   
<p>Legal expert James Murphy aka MetaLawMan recently opened up about the status of the XRP Trust and its implications for the broader <a href="https://coinpedia.org/news/crypto-price-today-14th-oct-2024-bitcoin-eyes-65k-brett-leads-daily-gainers/" target="_blank" rel="noreferrer noopener">cryptocurrency market</a>, especially concerning regulatory challenges posed by the SEC.</p>   
<p><a href="https://www.youtube.com/watch?v=qYdJEuihIFQ" target="_blank" rel="noreferrer noopener nofollow">In an interview with Thinking Crypto, </a>when asked if the SEC’s appeal might hinder these approvals, James expressed concern that the SEC could use the existing uncertainty as a reason to deny the XRP ETP (Exchange-Traded Product). He said that for an ETF to be approved, the asset must qualify as a commodity, which complicates the situation for XRP.</p>   
<h3 class="wp-block-heading" id="h-uncertainty-surrounding-approvals"><strong>Uncertainty Surrounding Approvals</strong></h3>   
<p>James believes that the SEC might feel pressured to deny these products, citing that there is still uncertainty in the market. He suggested that the SEC could drag out the process, possibly prompting further legal challenges similar to past scenarios with Bitcoin.</p>   
<p>James pointed out that a change in SEC leadership could lead to a more favorable environment for crypto-related products. He referenced a recent hearing where the commissioners appeared open to Congress updating legislation, contrasting this with SEC Chair Gary Gensler's evasive responses.</p>   
<h3 class="wp-block-heading" id="h-public-sentiment-towards-gensler"><strong>Public Sentiment Towards Gensler</strong></h3>   
<p>James criticized Gensler's performance during the hearing, expressing eagerness for a change in leadership. He said that candidates from the Trump camp could potentially replace Gensler, opening the door for more innovation in the crypto space.</p>   [post_titles_links postid="365053"]   
<h3 class="wp-block-heading" id="h-fair-notice-and-regulatory-clarity"><strong>Fair Notice and Regulatory Clarity</strong></h3>   
<p>During the hearing, the concept of "fair notice" was stressed, explaining the need for clear rules in regulatory practices. James stressed that a transparent legal framework is essential for compliance, asserting that the current ambiguity undermines the rule of law.</p>

Ripple News: Can the SEC Stop XRP ETFs?

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