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Ripple Takes On SEC’s ‘Lawless Tactics’ — Top Lawyer Alderoty Reveals
In a recent statement, Stuart Alderoty, Ripple’s chief compliance officer and top lawyer, has sparked controversy by taking on the Securities Exchange Commission (SEC) for its “lawless tactics.” This comes as the ongoing legal battle between the two entities continues to unfold.
As reported earlier, the SEC announced its intention to appeal the Court’s decision that certain prior XRP distributions by Ripple were securities. It is essential to note that the SEC’s objective is not about whether XRP, in and of itself, is a security. Instead, the focus lies on specific transactions.
Given the ongoing appeals process, Ripple deposited $125 million set aside for remedies into an escrow account. The appeal and cross-appeal briefing may take until at least the first half of 2025. An argument before the appellate court will likely occur in the fall of that year, followed by a final ruling from the court.
This is crucial information for investors and enthusiasts, as it underscores the ongoing legal battle between Ripple and the SEC. The ripple effect is significant, with cryptocurrency enthusiasts closely monitoring the situation.
Stay tuned for further updates on this story
Source: u.today
