Implications of Torres Decision and Ripple’s Potential Appeal against the SEC

Ripple’s Decision on SEC Appeal Sparks Debate Among Crypto Enthusiasts and Legal Experts

In the online crypto community, a tweet from a user named Mickle has ignited a discussion on whether Ripple will choose to appeal against the SEC. The recent Torres decision has brought implications that are being carefully examined by both crypto enthusiasts and legal minds. Mickle expressed the belief that Ripple’s appeal would be unlikely and could potentially harm its business.

However, various attorneys and users have countered Mickle’s argument, stating that if the SEC were to appeal, Ripple would likely follow suit. Despite acknowledging the negative impact of ongoing litigation on Ripple’s US operations, they emphasized that the case would not have a significant effect on the business outside the country, allowing it to continue as usual.

As the debate progressed, other participants agreed that Ripple would most likely not appeal unless prompted by an SEC action. John E. Deaton’s statements were cited, highlighting that a successful SEC appeal wouldn’t necessarily benefit the regulatory body.

Australian lawyer and digital asset enthusiast Bill Morgan also joined the conversation, asserting that it would be a serious misstep for Ripple not to appeal in the event of an SEC appeal. Morgan pointed out flaws in Judge Torres’ decision, particularly the lumping together of ODL customer sales with other institutional sales. He argued that this could be grounds for Ripple’s appeal.

Morgan proposed a hypothetical scenario where Ripple might choose not to appeal if its executives, Garlinghouse and Larsen, win the trial and the SEC decides not to appeal. He also noted the possibility of legislative changes in the future that could exclude Ripple sales to ODL customers from the SEC’s jurisdiction.

Taking a closer look at Judge Torres’ reasoning, Morgan suggested that much of the ruling does not align with the nature of sales to ODL customers. He speculated that the focus on pre-2021 sales during the litigation may have contributed to this potential misinterpretation. However, if the SEC were to initiate a lawsuit for sales from 2021 to 2023, the nature of ODL customer sales would likely receive more attention.

The debate surrounding Ripple’s decision on whether to appeal the SEC’s actions continues to evolve, with different perspectives and legal considerations being presented. Ripple’s ultimate choice will undoubtedly have far-reaching implications for its business and the broader crypto community.