Ripple Will Not Shy Away From SEC Appeal As Appeals Court Will Affirm XRP Ruling: Ripple CLO

Ripple CLO Stuart Alderoty is confident in XRP’s legal battle, anticipating a similarly favorable outcome should the SEC appeal the XRP ruling.

Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple, a prominent blockchain technology company headquartered in San Francisco, expressed unwavering confidence in the firm’s readiness to address any potential SEC appeal arising from the recent federal court ruling.

In an episode of Chain Reaction, a podcast by TechCrunch, Alderoty shared an optimistic outlook on the upcoming SEC appeal. He believes that the ruling in favor of XRP will stand firm and possibly gain further support during the appeal process.

“Ripple Won’t shy away from likely SEC appeal of its federal court ruling.

The lawyer expressed confidence in the court of appeals’ decision, stating: 

“We think the judge got that right, and we think that was a faithful application of the law, and I think a court of appeals will not only affirm that but maybe even amplify that to even a greater extent.”

.@Ripple won't shy away from likely SEC’s appeal of its federal court ruling.

“I think a court of appeals will not only affirm that but maybe even amplify that to even a greater extent.”

– Ripple chief legal officer @s_alderoty said https://t.co/Uhi0ZTxUJS

— Chain Reaction Pod (@chain_reaction) July 25, 2023

Alderoty went on to underscore that Judge Analisa Torres’ recent ruling would effectively demonstrate to other judicial authorities that the actions of the US SEC regarding its regulatory measures on the cryptocurrency industry are fundamentally “misguided.”

As Ripple continues to navigate the legal battle with the SEC, Alderoty’s positive sentiment reflects the company’s determination to establish clarity and regulatory certainty in the crypto space. 

Reflecting on the ups and downs and unending court cases with regulators, Alderoty expressed in a tweet that the crypto industry represents the most fascinating field in his over 30 years as a lawyer.

30+ years as a lawyer, and crypto is, without a doubt, the most fascinating industry I’ve been a part of.

Thank you @jacqmelinek for having me on to discuss what the lawsuit decision means, where the SEC has jurisdiction (and more importantly where it doesn’t), and much more. https://t.co/lozorZeTyL

— Stuart Alderoty (@s_alderoty) July 25, 2023

SEC Appealing XRP Ruling 

Notably, the SEC had previously expressed displeasure after a US judge ruled that sales of XRP on public exchanges did not violate securities laws. In a separate lawsuit, the regulator commented that the XRP ruling was not decided in good faith, hinting at a potential appeal. 

However, Ripple CEO Brad Garlinghouse criticized the SEC for claiming the XRP ruling was wrongfully decided. He found it absurd that the regulator could blame the judge for appropriately applying the law. 

Meanwhile, top voices in the XRP community believe the appeal could be an exercise in futility, just as the Ripple CLO noted. 

Managing Partner of the Deaton law firm, John Deaton, argued that an appeal decision is only foreseeable in two years. As The Crypto Basic reported, Deaton further stated that the stakes of the appeal court issuing a judgment in favor of the US regulator are incredibly low.