SEC Likely to Appeal Ripple XRP Sales Ruling, Former Lawyer Predicts
- Former SEC lawyer suggests the agency will likely appeal Judge Torres’s July 2023 ruling on Ripple’s programmatic XRP sales.
- SEC insiders argue that the decision is “not good law” and believe it misinterprets the Howey Test criteria.
- Legal experts like John Deaton and Marc Fagel see low chances of the SEC overturning the ruling, citing factual specifics of the case.
Attorney John Deaton, who filed an Amicus Brief for XRP holders, emphasized that the SEC would struggle to prove a ‘common enterprise’ existed in the Ripple case, making an appeal both costly and unlikely to succeed.
The potential appeal could reshape regulatory standards for digital assets and influence future legal battles in the cryptocurrency space. Stay tuned as this landmark case continues to evolve.
