Ripple Vs SEC : Pro-XRP Lawyer Discusses Potential Outcome of SEC's Appeal – Coinpedia Fintech News
Pro-XRP lawyer Fred Rispoli recently shared his insights on the SEC’s recent appeal in an interview on Thinking Crypto’s YouTube channel. Rispoli shed light on the appeal’s potential timeline and its implications for the XRP community.
The attorney highlighted that the case’s significance stems from its origin in the Southern District, a major financial hub. He predicted that the appeal’s briefing schedule might last two to three months, even in an expedited scenario, with completion expected by early 2024.
Rispoli cautioned against assuming that the SEC’s avoidance of labeling XRP as a security guarantees its immunity from future claims. He pointed out that the SEC could address this issue tangentially during the appeal.
When asked about the chances of the appeal being denied or approved, Rispoli indicated a leaning towards denial. He suggested a 70-80% chance of approval if Ripple supports the appeal, and a 60-70% chance of denial if Ripple opposes it, mainly due to potential trial complications.
Furthermore, Rispoli mentioned the potential impact of overturning programmatic sales, which could necessitate additional trial proceedings. Although this might not drastically change the situation, it could influence the trial’s duration. He also noted that the court could consolidate matters for a streamlined appeal in the future.conclusion
Fred Rispoli’s analysis offers valuable insights into the potential outcomes and timeline of the SEC’s appeal regarding XRP. As the XRP community watches closely, the legal proceedings continue to unfold, with implications for both Ripple and the broader cryptocurrency landscape
Source: Read Full Article