Lawyer Outlines Four Options for SEC’s Next Steps in Ripple Case
Lawyer James Murphy has presented four potential options the U.S. Securities and Exchange Commission (SEC) could pursue after the ruling on the Ripple case involving XRP.
The SEC has expressed its intention to appeal the court decision. One option is for the SEC to file a “request for interlocutory appeal,” which would require permission from Judge Torres and the 2nd Circuit Court of Appeals. The second option involves proceeding with a trial on the aiding and abetting claim against Ripple’s CEO and co-founder, followed by a regular appeal. The third option is for the SEC to drop claims against the individuals and immediately file an appeal without permission. The fourth option is to settle.
Murphy believes the SEC is likely to choose the first option due to political pressure and the impact of the decision on the SEC’s cases against various cryptocurrency exchanges. He considers a settlement unlikely, as it would leave the precedent untested on appeal. He expects the SEC to request an interlocutory appeal within the next two weeks and believes starting the appeals process now would be beneficial for Ripple and the XRP community.
Clever Robot News Desk 28th July 2023
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