SEC could wait 'years' to appeal Ripple case: Brad Garlinghouse

According to Ripple CEO Brad Garlinghouse, filing an appeal by the U.S. Securities and Exchange Commission "would only reinforce" Judge Torres' ruling that XRP is not a security.

Ripple CEO Brad Garlinghouse believes the U.S. Securities and Exchange Commission (SEC) will face a lengthy process before it has the opportunity to appeal Judge Torres' favorable ruling in the case against Ripple.

On July 13, Judge Torres ruled partially in favor of Ripple Labs in a case brought by the Securities and Exchange Commission in 2020, ruling that the XRP token (XRP) is not a security regarding sales retail on digital asset exchanges.

However, Torres ruled that XRP is a security when sold to institutional investors because it met the conditions set out in the Howey test.

In an interview with Bloomberg on July 15, Garlinghouse dismissed the institutional sale decision as "the smallest piece" of the lawsuit, and believes that if the SEC were to appeal the retail sale decision, it would would only "further" solidify the decision made by Judge Torres.

Garlinghouse thinks it may be a while before the SEC can appeal.

“In law, the law of the land right now is that XRP is not a security. very optimistic."

Garlinghouse pointed out that this was the first time the SEC had lost a "crypto case". He called the SEC "a bully" and preying on "weak players" in the crypto industry who were unable to "mount a proper defense".

He also noted that