It’s been nearly two weeks since a federal court ruling settled a years-long battle between Ripple Labs and the SEC over the character of Ripple’s XRP token. Southern District of New York choose Analisa Torres dominated that the XRP token is not a safety when bought to most people, however it may be handled as a safety for previous XRP gross sales to institutional purchasers.
The verdict was a “win” for each the corporate and the crypto neighborhood alike, however Stu Alderoty, chief authorized officer of Ripple Labs, hinted on Ztoog’s Chain Reaction podcast that the search for regulatory clarity is removed from over.
The SEC mentioned after the ruling that the decision in favor of Ripple on secondary markets gross sales was “wrongly decided” and the court “should not follow them.” The assertion was talked about in authorized paperwork for a separate case in opposition to Terraform Labs, and the company mentioned it’s contemplating different out there avenues for additional evaluate.
But Ripple gained’t shrink back from the SEC’s possible attraction, Alderoty mentioned. “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.”