Ripple VS SEC Aftermath : Decoding SEC’s Next Moves in the Ripple Legal Battle

Since the conclusion of the highly anticipated Ripple Vs SEC lawsuit, there have been several speculations on what is next. Judge Analisa Torres has ruled that the sale of XRP is not a security which is contrary to what was claimed by the Securities and Exchange Commission.

The SEC has hinted that it will appeal the judgement given by Judge Analise Torres on the security status of XRP as it thinks it is a “wrongful decision”. However there have been no details about when the SEC plans to appeal.

In a recent tweet, MetaLaw Man, a well-known lawyer and crypto influencer, has shared four options that he believes are currently being considered by the SEC. Read on to know what these are. 

Four Potential Options SEC Could Consider in Ripple Lawsuit

In his latest tweet, popular legal expert James Murphy (alias MetaLaw Man) has shared the four options he believes the SEC is considering regarding its lawsuit against Ripple. 

1. SEC filing a request for an interlocutory appeal, which means appealing before final judgment is entered. To do this, the SEC would need permission from both Judge Torres and the 2nd Circuit Court of Appeals. The SEC must explain why it thinks that the ruling involves a significant legal question with substantial differences of opinion and how an immediate appeal would advance the case. If Judge Torres agrees, the SEC has 30 days to make the request and an additional 10 days to ask the 2nd Circuit Court of Appeals.
2. After conducting a trial on the aiding and abetting claim against Larsen and Garlinghouse, the SEC proceeds to file a standard appeal.
3. The SEC drops the claim against Larsen and Garlinghouse and proceeds with an immediate appeal, which does not require permission.
4. The SEC would settle.

Why Is the SEC Most Likely To Appeal?

MetaLaw Man believes the SEC is likely to request an interlocutory appeal due to political pressure on Chair Gary Gensler to reverse the Torres decision swiftly. The decision has an impact on the SEC’s cases against Coinbase, Binance, and Bittrex. 

Additionally, the re-listing of XRP by crypto exchanges worldwide is causing embarrassment for the SEC, prompting criticism of Gensler by everyone in the industry including Congressman Ritchie Torres. It must be noted that Metaman considers a settlement to be highly unlikely. 

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