2023-7-23 05:06 |
The cryptocurrency community has lately debated a possible appeal from the Securities & Exchange Commission following the latest Ripple ruling. Meanwhile, former SEC Office of Internet Enforcement chief John Reed Stark tweeted that the securities regulator can lose an appeal.
SEC can certainly lose an appealStark stated that the commission rarely filed appeals and could lose them. Moreover, many community members weighed on the potential appeal filing by the SEC to overturn the court’s ruling that XRP isn’t a security. Moreover, crypto enthusiasts remain bullish on the altcoin.
Come on guys, the sec is only trying to create FUD. They are sore losers. They’ll never win an appeal even if they make one.
There is so much bullish news for $XRP right now. I’m HODL
Meanwhile, Stark highlighted a recent case where the SEC lost against the United States Supreme Court. The expert asserted that “SEC appeals are certainly rare and the SEC can certainly lose them.” Nonetheless, he added that the regulator aims to ensure a secure environment for investors. He stated,
“…SEC appeals (even when I fiercely disagree with them) are about trying to do the right thing for investors.”
Pro-XRP lawyers also share similar views on Ripple vs. SEC battle. For instance, John Deaton trusts the ruling was legitimate since Analisa Torres only used the Howey test to determine whether XRP is a security.
“Judge Torres did not weigh any other factor other than applying the Howey test… The SEC will lose on appeal…”
The post Former SEC chief trusts the commission would lose if it appeals XRP ruling appeared first on Invezz.
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