Stuart Alderoty said the cryptocurrency company has no intention of backing down from its position and is preparing for a possible resumption of court arguments following an appeal from the SEC.
A future appeals court ruling will put a definitive end to the relationship with the regulator and the Ripple-SEC case, the lawyer believes. It would not merely affirm the correctness of District Judge Analisa Torres’ (Analisa Torres) ruling, but perhaps even strengthen the verdict. In this way, the Ripple case has the potential to bring clarity to other pending lawsuits. And recent statements by SEC lawyers can be interpreted as a simple misconception.
Alderoti’s opinion is shared by crypto lawyer John Deaton, who represents more than 75,000 XRP holders in court. The attorney said the SEC’s filing of the appeal would not affect the ruling in the Ripple case, and the judge could rule “exactly the same way.”
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“Even if the SEC appeals, it will be at least two years before the court issues a new ruling. In the meantime, the earlier Ripple-SEC ruling by Analisa Torres will remain applicable,” Deaton clarified on Twitter.
The day before, the U.S. Securities and Exchange Commission charged
Quantstamp with charges of conducting a regulator-unauthorized ICO and issued penalties.