Ripple CEO Brad Garlinghouse believes that the US Securities and Exchange Commission (SEC) is on the wrong track in the legal dispute with his company.
Some legal experts agree with this opinion. In a recent podcast, capital markets and digital asset attorney Joseph Hall provided his perspective on the matter.
“I’m also not sure what the SEC is trying to prove with the XRP litigation…I remain in shock as to why the SEC decided to take this case to court…their entire regulatory framework could come to a halt if SEC losses here, and I think there’s a pretty good chance they’re going to lose on all counts.”
The dispute has long since affected the payment service provider Ripple and practically the entire crypto scene in the USA.
“It’s quite understandable that investors are showing a lot of dissatisfaction and concern about Ripple lawsuit outcome,” says Hall.
Of course, the securities laws of the USA are a constant point of contention in the Ripple vs. SEC case. But expert Hall also thinks it is wrong to apply them to digital tokens.
However, he also believes that the final decision will drag on for a while. The investigation phase is now over. However, since the lawsuit is being heard at the district level, appeals are likely. This makes an outcome this year highly unlikely, Hall said.
On the other hand, according to Attorney John Deaton, the following ruling would be significant for the SEC v. Ripple Lawsuit.
New developments have surfaced following the unsealing of two memos that could see the SEC lawsuit against blockchain company Ripple (XRP) dismissed in the coming weeks. The developments prompted attorney John Deaton, the lawyer representing over 65,000 XRP holders, to note that the subsequent ruling will determine the case’s outcome.
Commenting on the Two legal Memos Unsealed, Brad Garlinghouse Ripple, CEO, said truth is available for everyone.
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