Ripple Sets to Take a New Step in XRP-SEC Battle Today – Here Are the Details
Ripple Labs is preparing to make a significant move today in its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). According to a social media post by FOX reporter Eleanor Terrett, Ripple will file Form C, which will outline key aspects of its appeal in the Second Circuit Court of Appeals.
This filing comes as the SEC appeals against the recent district court decisions that favored Ripple. One of the key issues being challenged is the court’s ruling that classified institutional sales of XRP as unregistered securities sales.
Ripple’s chief legal officer, Stuart Alderoty, expressed his optimism about the upcoming appeal. He stated, “I have a positive outlook on our case in the Second Circuit for several reasons.” He also pointed out that historically, the Second Circuit has not been supportive of the SEC or regulatory overreach. Alderoty added, “Statistically speaking, if you lose in district court, your chances of winning in the Second Circuit are about 10% or less.”
Ripple’s CEO, Brad Garlinghouse, shares Alderoty’s confidence in their chances of success. He confidently stated, “I firmly believe that we will win the appeal, which will completely dismantle Gary Gensler’s entire plan for cryptocurrency regulation.” Garlinghouse was referring to the SEC Chairman’s push for stricter oversight of the crypto industry.
Please note that this article does not provide investment advice.
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