{"id":22463,"date":"2023-07-23T18:32:22","date_gmt":"2023-07-23T18:32:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-appeal-would-not-be-a-setback-for-ripple\/"},"modified":"2023-07-23T18:32:22","modified_gmt":"2023-07-23T18:32:22","slug":"sec-appeal-would-not-be-a-setback-for-ripple","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-appeal-would-not-be-a-setback-for-ripple\/","title":{"rendered":"SEC appeal would not be a setback for Ripple"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1659110848876-7cae5b58-1fc5-4d52-aca8-54b0b6bdbd7c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1659110848876-7cae5b58-1fc5-4d52-aca8-54b0b6bdbd7c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1659110848876-7cae5b58-1fc5-4d52-aca8-54b0b6bdbd7c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1659110848876-7cae5b58-1fc5-4d52-aca8-54b0b6bdbd7c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">SEC filed documents signaling the intention to appeal the recent ruling in its case against Ripple.<\/li>\n<li dir=\"ltr\">Crypto Law founder John Deaton says the Judge\u2019s decision will remain the law till the appeal is heard and determined.<\/li>\n<li dir=\"ltr\">XRP price retreated following the news, though the declines were widely spread across the market.<\/li>\n<\/ul>\n<p dir=\"ltr\">The US Securities and Exchange Commission (SEC) signaled in documents filed on Friday that it would be appealing the court\u2019s decision regarding XRP.<\/p>\n<p dir=\"ltr\">But while a former SEC official noted this could likely be bad news for <a href=\"https:\/\/coinjournal.net\/ripple\/\">Ripple<\/a>, a pro-XRP lawyer has opined that this won\u2019t be the case \u2013 \u201cnot even close\u201d \u2013 he noted.<\/p>\n<h2 dir=\"ltr\">Judge Torres\u2019 decision \u2018law\u2019 for now<\/h2>\n<p dir=\"ltr\">SEC\u2019s hint of an appeal against Judge Analisa Torres\u2019 ruling was revealed in documents related to the agency\u2019s case against Terraform Labs and its former CEO Do Kwon. The regulator faulted the judge\u2019s decision and pointed towards a possible appeal.<\/p>\n<p dir=\"ltr\">In a <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1682863291947974659\" rel=\"noopener noreferrer\" target=\"_blank\">tweete<\/a>d response to a suggestion that Ripple could suffer a setback, Crypto Law founder John Deaton said:<\/p>\n<p dir=\"ltr\">\u201c<em>An appeal is not even close to be a setback. First, it will be two years from now before a decision is issued by the 2nd Circuit, if it\u2019s appealed. The Torres Decision is the law until then \u2013 at least in the 2nd Circuit. Second, even if the 2nd Circuit said Torres was wrong regarding her application of the 3rd Howey factor (which I predict they won\u2019t), that doesn\u2019t mean the SEC wins on Programmatic sales (sales on exchanges)<\/em>.\u201d<\/p>\n<p dir=\"ltr\">According to Deaton, Judge Torres could \u201cstill rule the same exact way\u201d if the SEC appealed the case.<\/p>\n<p dir=\"ltr\">\u201c<em>Let me be more precise: I\u2019m not suggesting that Judge Torres\u2019 decision is binding within the SDNY. A fellow District Judge could disagree with her. But I think a fellow judge in the 2nd Circuit is going to be hard pressed to disagree with Judge Torres, especially considering she cited Judge Castel from Telegram. After reading the Coinbase transcript, we can see it\u2019s already playing out that way<\/em>,\u201d he explained.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sec-appeal-would-not-be-a-setback-for-ripple-lawyer-says\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) SEC filed documents signaling the intention to appeal the recent ruling in its case against Ripple. Crypto Law founder John Deaton says the Judge\u2019s decision will remain the law till the appeal is heard and determined. XRP price retreated following the news, though [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22463"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22463"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22464"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}