Victory

A leading legal expert has shared insights into the Securities and Exchange Commission’s (SEC) anticipated appeal in the ongoing Ripple case.
Attorney Fred Rispoli has <a href="https://x.com/freddyriz/status/1846576195124764909" rel="noopener noreferrer nofollow">outlined</a> the key areas the SEC is expected to challenge, primarily focusing on the court’s decisions concerning programmatic sales and other distributions of Ripple’s native token, XRP.
<h2 id="b-sec-to-appeal-disgorgement-decision-b">SEC to Appeal Disgorgement Decision</h2>
Rispoli notes that the SEC will likely dispute Judge Analisa Torres’ ruling on the disgorgement of profits.
Initially, the SEC had sought a staggering $2 billion in penalties from Ripple. However, the judge significantly reduced this amount to $125 million.
The SEC is expected to argue that this penalty is insufficient given the scale of the violations it has accused Ripple of committing.
Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed confidence that Ripple will prevail in this next stage of the legal battle.
Alderoty made it clear that Ripple is prepared for the SEC’s appeal, stating that he looks forward to the federal court of appeals finally ending Gensler’s misguided attempt to target the crypto industry.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="b-focus-on-penalty-and-programmatic-sales-b">Focus on Penalty and Programmatic Sales</h2>
Rispoli suggests that the <a href="https://timestabloid.com/ripple-vs-sec-case-as-of-october-12-2024/" rel="noopener noreferrer nofollow">SEC</a> will challenge not only the amount of the penalty but also the court’s conclusions on Ripple’s programmatic sales of XRP and other distributions.
The agency’s Form C, due to be filed by Thursday, is expected to provide initial details on the focus of its appeal.
In the subsequent opening brief, the SEC will present more comprehensive arguments to back its challenge of the court’s decisions.
Although <a href="https://timestabloid.com/ripple-vs-sec-settlement-can-still-happen-within-14-days/" rel="noopener noreferrer nofollow">Ripple’s</a> executives have previously asserted that the legal status of XRP is settled and will remain unchanged by the appeal, Rispoli believes the SEC might attempt to revisit this issue.
While he is confident the SEC will not succeed in overturning the decision that XRP is not a security, he cautions that the agency may include arguments on this matter in its appellate brief.
Ripple’s legal team has consistently maintained that XRP’s status is not at risk in the appeal, echoing the sentiment of the initial court ruling that found XRP to be a digital asset rather than a security.
This ruling has provided Ripple with significant relief as it aims to move forward with its operations, even as the broader crypto industry faces ongoing regulatory scrutiny.
As the SEC continues its aggressive pursuit of regulatory oversight in the cryptocurrency space, this case remains a critical precedent for the industry at large.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/legal-expert-pinpoints-what-sec-will-appeal-in-xrp-victory-ruling/" rel="noopener noreferrer nofollow">Legal Expert Pinpoints What SEC Will Appeal In XRP Victory Ruling</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

Legal Expert Pinpoints What SEC Will Appeal In XRP Victory Ruling

Table of Contents

Times Tabloid

Other articles published on Oct 18, 2024

Ripple Co-Founder Chris Larsen Donates $1 Million in XRP to Kamala Harris' Presidential Campaign

Toncoin (TON) and XRP Investors Turn to XYZVersus (XYZ) for Recovery Amid Promising Growth Potential

SHIB proves to be a solid bet for traders, new money eye Sutoshi’s growth in 2025

Binance Announces Listing of Scroll (SCR) Token: Trading Starts on October 22

Will Do Kwon Face Extradition? Montenegro’s Final Verdict Imminent!

US has 26M strong ‘crypto voting bloc’ ahead of elections — Survey

Join our free newsletter for daily crypto updates!