- Judge Torres' Ruling and Its Implications
- Former SEC Lawyer's Reaction
- How Long Will the Litigation Last?
The Securities and Exchange Commission (SEC) is facing a decision on whether to appeal a recent ruling by Judge Analisa Torres in the Ripple case involving the cryptocurrency XRP. Experts suggest that the chances of an appeals court overturning the decision are low.
Judge Torres' Ruling and Its Implications
Judge Analisa Torres based her ruling on specific facts and the absence of expert testimony on XRP holders. If the SEC appeals, it is likely to return to Judge Torres, who may reaffirm her initial decision.
Former SEC Lawyer's Reaction
Former SEC lawyer Marc Fagel addressed some misconceptions surrounding the Ripple case. In response to a user's claim that a settlement had already been reached between Ripple and the SEC, Fagel clarified, 'You're misunderstanding how litigation works in the U.S. There is no settlement, which involves an agreement between both parties. Instead, there is a final judgment from the court that orders Ripple to pay penalties for its legal violations. Whether the parties choose to appeal that judgment is a separate matter.'
How Long Will the Litigation Last?
During a discussion about the Ripple case, former SEC lawyer Marc Fagel mentioned that the average time for a ruling in the Second Circuit is about 10-11 months. However, depending on the outcome, the case could return to the trial court for further proceedings or be redirected elsewhere.
The future of the Ripple case remains uncertain. Depending on the SEC's decision regarding an appeal, the litigation could extend for several more months. The current ruling undoubtedly impacts the crypto market and stirs discussions among experts and industry participants.
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