The Ripple Vs SEC lawsuit which has been in the spotlight of the crypto industry has finally concluded after over two years. Judge Analisa Torres has ruled in favour of Ripple and held that the sale of XRP is not a security which is contrary to what the SEC has been contesting. Other crypto companies have sought to utilise the outcome of this lawsuit as a precedent in their own cases. As a result, the SEC has hinted that it will be filing an appeal against the judgement.
There have been a lot of predictions going around regarding what the SEC might do with the appeal in this lawsuit. Recently, John Deaton, a pro-XRP attorney, shared his thoughts on Twitter about how the Judges seem to perceive the SEC.
Let’s delve into the details.
Judges’ Attitude Towards SEC To Affect Ripple Lawsuit Appeal
John Deaton, the founder of Crypto Law and a Pro-XRP lawyer, has shared his thoughts on how he thinks the Judges perceive the SEC. This comes after the SEC’s recent indications of appealing Judge Analisa Torres’ ruling in the Ripple lawsuit.
In his tweet, Deaton has quoted Stuart Alderoty who has said that their case and the decision given by their judge (Torres) would offer comfort to other judges, suggesting that the SEC is simply misguided.
John Deaton further points out that every judge who has dealt with the SEC concerning matters of cryptocurrency has criticised the SEC’s positions, except for the judge handling the LBRY case. He further suggests that even the LBRY judge became frustrated with the SEC’s handling of digital assets, as evidenced by their reactions during a specific hearing held on November 21, 2022.
This indicates that the SEC is unlikely to receive a favourable verdict even after they appeal since the Judges have also expressed criticism of the way the regulator has handled matters relating to cryptocurrencies.