While Ripple sought a stay of the $125 million monetary judgment in its legal struggle with the U. S. Securities and Exchange Commission (SEC), experts in the field opine on the outcomes. The latest discussion between former SEC official Marc Fagel and the legal expert Bill Morgan has triggered new anticipation about the possible reaction of the SEC to this judgment.
The dialogue unfolded on social media, where Morgan, known for his analysis of the Ripple case, shared insights into Ripple’s recent request for a stay on the financial penalty imposed by Judge Analisa Torres. Ripple and the SEC have left the door open for potential appeals, keeping the case’s outcome uncertain.
Also Read: Ripple vs SEC: Ripple Labs Requests Stay on $125 Million Judgment in SEC Case
Experts Weigh Appeal Possibilities
Bill Morgan commented on the issue on X (formerly Twitter), stating that although both parties have opened their options, an appeal does not necessarily follow. He said that he expects a 60% probability that the SEC will proceed to an appeal. As observed, in the SEC vs Payward case, Judge Orrick referred to the rationale of the Torres judgment in Ripple’s summary judgment. Morgan also opined that the SEC may decide not to appeal more, given their freedom to circumvent the decision.
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A former SEC official, Marc Fagel, responded that the appeal decision is still a factor. He said that in any case, the SEC could still take an appeal; these are the claims by some that the agency has dismissed this option. As pointed out by Fagel in a tweet, the issue is still very much alive, supporting the assertion that the legal process does not end here at all.
Ripple and SEC Hold Different Cards
The SEC has until early October to determine whether to appeal the August 7 decision. Both parties are developing legal tactics, and the continuous public discussion reflects the case’s complexity. The legal maneuvers might have long-term repercussions for the cryptocurrency sector, particularly regarding the regulatory regulation of digital assets like XRP.
In conclusion, the back-and-forth between legal experts shows the unpredictability of the Ripple-SEC case. With potential appeals on the horizon, the case continues to generate significant interest as the outcome could reshape the regulatory landscape for cryptocurrencies.
Also Read: Ripple to Enhance XRP Ledger with Smart Contracts and EVM Sidechain
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.