Ripple Labs chief legal officer Stuart Alderoty described the Securities and Exchange Commission’s (SEC) appeal as a trigger for Ripple’s victory.
Concerns about a possible appeal against the landmark Ripple decision by the US securities regulator earlier this month were received positively by Ripple’s chief legal officer. Stuart Alderoty stated that he believes that if the SEC appeals the case, the court can take action to further consolidate Ripple Labs’ partial victory over the financial regulator.
“An appeal could be a sign of victory”
On July 13, Judge Analisa Torres ruled that XRP is not a security when sold to the public on crypto exchanges, but can be considered a security when sold to institutional investors. On July 21, the SEC used its ongoing lawsuit against Terraform Labs founder Do Kwon to voice its complaints about the decision, implying that it will appeal the split decision in the future.
Stuart Alderoty, head of law at Ripple Labs, made statements by emphasizing the latest events in the case, and said;
“We think the judge got this right, and we think it’s a faithful application of the law, and I think an appeals court will not only uphold this, but maybe even expand it further.”
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