SEC call could amplify Ripple win, says Ripple Labs legal chief
Stuart Alderoty says a call from the Securities and Exchange Commission could see Ripple further cement its victory over the regulator.
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Concerns of a potential appeal by the US securities regulator to Ripple's landmark decision earlier this month have been ignored by Ripple's chief legal officer.
Stuart Alderoty believes that if the SEC appeals the case, the court could take steps to further cement Ripple Labs' partial victory over the financial regulator.
Speaking during a July 26 TechCrunch podcast, Alderoty reiterated his position that the XRP token (XRP) does not constitute an investment contract and that the Ripple team would not hesitate to appeal in court by the SEC.
"We think the judge got it right, and we think it was fair application of the law, and I think an appeals court will not only affirm that, but maybe even the will amplify even more."
On July 13, Judge Analisa Torres ruled that XRP was not a security when sold to the public on crypto exchanges, but could be treated as a security when sold to institutional investors.
On July 21, the SEC used its pending case against Terraform Labs founder Do Kwon to air its grievances against the decision and hinted that it would appeal the split decision in the future.
"Respectfully, these parts of Ripple were ill-decided, and this Court should not follow them," the SEC attorneys wrote, saying...
Stuart Alderoty says a call from the Securities and Exchange Commission could see Ripple further cement its victory over the regulator.
News
Join us on social networks
Concerns of a potential appeal by the US securities regulator to Ripple's landmark decision earlier this month have been ignored by Ripple's chief legal officer.
Stuart Alderoty believes that if the SEC appeals the case, the court could take steps to further cement Ripple Labs' partial victory over the financial regulator.
Speaking during a July 26 TechCrunch podcast, Alderoty reiterated his position that the XRP token (XRP) does not constitute an investment contract and that the Ripple team would not hesitate to appeal in court by the SEC.
"We think the judge got it right, and we think it was fair application of the law, and I think an appeals court will not only affirm that, but maybe even the will amplify even more."
On July 13, Judge Analisa Torres ruled that XRP was not a security when sold to the public on crypto exchanges, but could be treated as a security when sold to institutional investors.
On July 21, the SEC used its pending case against Terraform Labs founder Do Kwon to air its grievances against the decision and hinted that it would appeal the split decision in the future.
"Respectfully, these parts of Ripple were ill-decided, and this Court should not follow them," the SEC attorneys wrote, saying...
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