Ripple Chief's Legal Officer remains confident as regulatory uncertainty rises. As Ripple continues to expand into newer avenues, prices see some upward momentum.
Ripple’s CLO suggested that SEC’s appeal worked in the former’s favor.experienced a surge of positivity following a favorable judgment in the SEC lawsuit. Despite this positive momentum, recent comments made by members of Congress may have the potential to cast a shadow over its progress.The optimistic trajectory of Ripple’s developments might be affected by the implications of these recent remarks, causing some uncertainty among investors and market participants.
He then went on to state that out of the 131 cases that Gary Gensler, chairman of the SEC, has fought, he’s won 130 and half, including the one against Ripple.For the uninitiated, Judge Analisa Torres issued a ruling on 13 July, stating that XRP was not considered a security during its public sale on cryptocurrency exchanges. However, the judge also determined that XRP could be regarded as a security when sold to institutional investors.
In response to this ruling, on 21 July, the SEC used its ongoing case against Terraform Labs founder Do Kwon to express its discontent with the decision. Furthermore, the SEC indicated that it might pursue an appeal against the split-decision ruling at a later stage. This development added further uncertainty to the regulatory status of XRP and could have potential implications for the cryptocurrency’s future.Ripple’s chief legal officer, Stuart Alderoty, dismissed concerns about a possible appeal by the SEC regarding the significant Ripple ruling from earlier this month. Alderoty was of the opinion that if the SEC does decide to appeal, the court may go on to strengthen Ripple Labs’ partial triumph even more.
30+ years as a lawyer, and crypto is, without a doubt, the most fascinating industry I’ve been a part of.
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