Ripple's SEC Lawsuit Nears Conclusion!

Will There Be an Appeal?

Sep 24, 2024

As Ripple's legal battle with the U.S. Securities and Exchange Commission (SEC) enters its final phase, speculation grows about a potential appeal. Former SEC lawyers anticipate a move that could extend the case, impacting the crypto sector.

Ripple's Legal Journey: A Case That Won't End Easily

The Ripple SEC case has been one of the most watched legal battles in the crypto industry. Recently, Judge Torres ruled Ripple must pay a $125 million penalty, a significant reduction from the original $2 billion demand. While many see this as a partial win for Ripple, the possibility of an extended legal battle remains.

Speculation began over whether the SEC will file an appeal. If the agency moves forward, Ripple may counter-appeal, prolonging the case further. Both parties have agreed to delay Ripple's penalty payment, suggesting they may be preparing for a longer courtroom fight.

Ex-SEC Lawyers Predict an Appeal

Former SEC attorneys, Marc Fagel and James Farrell, believe an appeal by the SEC is likely. James Farrell recently suggested there's a 75% chance the SEC will appeal liability aspects of the case. He also noted the SEC won regarding Ripple's institutional XRP sales but lost on secondary market sales and XRP used for payments.

The timing of a potential appeal is driven by administrative processes. SEC staff need Commission approval before proceeding, adding complexity to the case.

What’s Next for XRP?

The XRP community remains cautiously optimistic, but an appeal could extend the case. A final decision will affect XRP's legal standing and the broader crypto industry.

Pro-XRP lawyer Fred Rispoli mentioned the SEC might delay its decision until the last minute. Despite this, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty dismiss concerns, saying they don't plan to prolong the lawsuit.

As the Ripple-SEC case nears its end, the SEC's next move is crucial. Will they appeal, or is the case finally over? Ripple and the crypto world await, knowing the decision will have long-lasting effects on digital assets.