The Ripple case is heating up as the SEC’s deadline to appeal approaches on October 7, 2024. Pro-XRP attorney Fred Rispoli believes there’s a strong chance the SEC will challenge the recent ruling that favored Ripple, which could limit the classification of XRP sales as securities. Rispoli estimates a 60/40 split in favor of an appeal, emphasizing the high stakes involved for the SEC.
Legal experts, including John Deaton and Jeremy Hogan, are debating whether the SEC should focus on stronger cases instead of pursuing Ripple, with Hogan criticizing the agency for losing sight of its investor protection mandate.
The outcome of any appeal could set significant precedents for the crypto industry, either reinforcing the SEC’s regulatory power or solidifying Ripple’s victory and complicating future cases.
As the crypto community watches closely, the SEC’s decision will not only impact Ripple but could reshape the entire regulatory landscape for digital assets in the U.S., raising essential questions about how these assets are classified under the law.
