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Are you keeping up with the latest news in the world of cryptocurrency and securities law? If not, you’re in luck because we have some exclusive insights for you. Today, we’ll be discussing the SEC vs. Ripple case and how a recent ruling in the SEC vs. Kraken case could influence the SEC’s appeal strategy.
As of the latest data, XRP has seen a 7.86% increase, trading at $0.6080 from August 19 to August 24. However, the uncertainty surrounding the SEC’s plans to appeal the rulings from the SEC vs. Ripple case has kept XRP below its August 7 high of $0.6434. Judge Torres recently delivered a final judgment in the case, ordering Ripple to pay a hefty $125 million fine and comply with US securities laws.
Now, the SEC has 60 days from the final judgment date to file an appeal. But what’s interesting is how other recent SEC vs. crypto court rulings may impact the SEC’s decision regarding Ripple.
Just last Friday, Kraken’s Chief Legal Officer, Marco Santori, shared a significant court ruling from the SEC vs. Kraken case. The US courts ruled that none of the tokens trading on Kraken are considered securities. This ruling further supports the Programmatic Sales of XRP ruling, where Judge Analisa Torres concluded that the programmatic sales of XRP do not meet the criteria of the third prong of the Howey Test.
Renowned pro-crypto lawyer James Murphy, also known as MetaLawMan, weighed in on the court ruling, stating, “The Court denied Kraken’s motion to dismiss. As I read the opinion, I sympathized with the Judge as he had to sift through a lot of conflicting crypto case law that has developed as a consequence of the SEC’s scattered, regulation-by-enforcement approach.”
What’s even more intriguing is that Murphy pointed out, “Interestingly, the Judge specifically aligned himself with the reasoning of Judge Torres in the Ripple case on a number of points.”
Stay tuned for more updates and exclusive insights on the SEC vs. Ripple case and other developments in the crypto and securities law space. Extreme Investor Network is your go-to source for in-depth analysis and expert opinions on all things related to the stock market, trading, Wall Street, and more.
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