Ripple’s Chief Legal Officer, Stuart Alderoty, has recently said that the company is preparing for a US Securities and Exchange Commission (SEC) appeal. Specifically, talking to the TechCrunch Podcast, Alderoty said that the company would not shy away from the appeal that they perceived as likely.
When discussing a potential appeal, the Ripple executive expressed confidence in the outcome. Alderoty told the podcast, “I think a court of appeals will not only affirm that but maybe even amplify that to even a greater extent.”
Also Read: Ripple Price Prediction (XRP) for July-End 2023
Ripple Chief Legal Officer Says SEC Appeal is Likely
Just a week ago, the digital asset industry was given what could end up being a landmark court ruling. Indeed, following a two-year lawsuit, a federal judge ruled against the security status of XRP. Proving to counteract the security status that the SEC has long held, and subsequently initiating the legal proceedings.
Now, Ripples’ Chief Legal Officer, Stuart Alderoty, has said that the company is preparing for an SEC appeal. Specifically, stating that such an appeal is a likely outcome following the recent court decision. Moreover, the SEC has already stated that they are considering an appeal to the decision that SEC chair Gary Gensler called “disappointing.”
Also Read: New York Post Takes Jab at Ripple-XRP Ruling, Lawyer Hits Back
Additionally, Alderoty stated his belief that the decision could aid other crypto firms in pending lawsuits. Specifically, in the clarity that it could provide, showing that the regulatory agency may have been misguided in its initial approach.
The appeal should be expected within the next 30 days, although there is no deadline for such a filing. Many within the industry do expect the SEC to move forward with an interlocutory appeal at some point in the next few weeks. However, the SEC still has a trial against Ripple executives, Chris Larsen, and Brad Garlinghouse. Subsequently, how the legal proceedings play out is as vital as it is fascinating.
