Ripple (XRP) vs. SEC: What’s Next as Appeal Deadline Nears?

YEREVAN (CoinChapter.com) — The XRP community is waiting for the United States Securities and Exchange Commission’s (SEC) decision on appealing the Ripple lawsuit. As the deadline approaches, discussions about the securities regulator’s next steps in the Ripple vs. SEC case fill the crypto industry.

“I assume it’s taking them a long time to make an internal decision. It’s a slow-moving bureaucracy. It was not my experience that, if they’d reached a decision, they’d be delaying it for no good reason,”

declared Marc Fagel, a former SEC lawyer, for instance, stressing the importance of this case for the SEC’s standing in crypto regulation.

Ripple’s executives, including CEO Brad Garlinghouse and CLO Stuart Alderoty, have not pursued further appeals. They secured a stay order from the court, protecting Ripple from a $125 million fine until the appeal is resolved.

John Deaton Criticizes SEC’s Legal Approach

Speaking to Good Morning Crypto, crypto lawyer John Deaton, known for his critical views on the SEC’s regulatory actions, condemned the agency’s lawyers for what he described as deliberate misconduct. He argued:

“This was intentional misconduct by these SEC lawyers, people should be fired because it was blatant.”

Alongside experts, the broader crypto community has consistently supported Ripple. Moreover, this sentiment was evident in Good Morning Crypto’s poll, where an overwhelming 96.7% of respondents endorsed Deaton’s view of the SEC’s actions.

The ongoing discussions about the SEC’s appeal could greatly impact the regulatory framework for cryptocurrencies like XRP.

Additionally, legal expert Fred Rispoli highlighted the broader context, calling for figures like Elon Musk to challenge the SEC’s approach to crypto.