In the aftermath of the final ruling in the SEC v. Ripple lawsuit, the crypto world is buzzing with speculation. Both sides scored partial victories, leading experts to believe that appeals are imminent.
Attorney Bill Morgan and James Murphy, known as MetaLawMan, suggest that both Ripple and the SEC will appeal. Their reasoning is simple: neither side got everything they wanted. Ripple faced a $125 million fine—far less than the $2 billion the SEC sought. Yet, the court also issued a permanent injunction against Ripple, prohibiting future violations of Section 5 of the Securities Act. This ruling leaves both parties with unfinished business.
Ripple Playing it Smart
Ripple’s CEO, Brad Garlinghouse, and their lead counsel, Stuart Alderoty, showed respect for the court’s decision but stayed silent on the injunction. This silence suggests they might be weighing their options before deciding on an appeal.
On the other hand, the SEC has remained quiet since the final judgment. No official statement has been released, fueling further speculation. The crypto community, led by voices like Sherrie, a prominent XRP advocate, is keenly watching the SEC’s next move. Sherrie noted that a 60-day window for appeals began with the court’s verdict. This period will be critical in determining whether the SEC, Ripple, or both will take the case to the next level.
Judge Torres previously denied the SEC’s attempt to appeal an earlier summary judgment on the firm’s programmatic sales. The judge insisted that all pending matters, including the remedies phase, be resolved first. Now, with the final judgment delivered, the SEC might renew its appeal efforts.
Interestingly, the timing could be favorable for Ripple. As the Democratic Party seeks to mend ties with the crypto community ahead of the upcoming U.S. elections, the SEC’s approach to crypto regulation could shift. Reports suggest that the SEC’s recent leniency on third-party tokens, like Solana and Cardano, could be a strategic move. If true, this might influence the SEC’s decision to appeal, potentially opting instead to bolster support among crypto voters.
However, the next 60 days will be crucial for both the parties.
