Ripple Chief Legal Officer, Stuart Alderoty, suggested that he wouldn’t be surprised if the U.S. Securities and Exchange Commission (SEC) appeals the final ruling in the Ripple case over XRP. In a recent interview on Cryptolaw TV, Alderoty questioned the SEC’s approach, expressing confidence that any appeal would likely fail. He criticized the SEC for not acting rationally, stating that their focus on this case does not align with their core mission of protecting investors.
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Alderoty highlighted that the court found no victims or allegations of fraud in the case, indicating that it doesn’t advance the SEC’s objectives. Despite his doubts about the SEC’s rationality, he expressed confidence that an appeal would uphold the current ruling, noting that the Court of Appeals reverses lower court decisions less than 10% of the time.
He also emphasized that XRP status as not being a security, and its trading in secondary markets as non-security transactions, remains the law, regardless of a potential appeal. Alderoty concluded by urging the SEC to return to its primary role of protecting investors, rather than pursuing cases where no harm to investors or the market occurred.
Cre: news.bitcoin
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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