Is Ripple Vs. SEC going to the Supreme Court?
As Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continue to fight in court and wait for a decision from Judge Analisa Torres of the U.S. Southern District Court of New York, Ripple's chief legal officer has made a powerful statement on Twitter.
The aggressive statement comes as the SEC is making more attacks on the crypto industry. In two weeks, the first day of trial in the lawsuit with Grayscale over a Bitcoin spot ETF will be held.
Ripple’s Stuart Alderoty stated that the SEC has lost a total of four of the five cases that made it to the Supreme Court:
The SEC has lost four of its last five cases in the Supreme Court, thanks to the few who had the courage and resources to fight back against its bullying and clinging to stretched legal positions that were not faithful to the law.
Is Ripple Willing To Fight In Supreme Court?
The statement is causing a stir in the XRP community because the reference to it is not entirely clear. Does Alderoty imply that Ripple is willing to go to the Supreme Court in the event of an unfavorable court case outcome? Is Alderoty pointing out that the SEC has a lousy track record regarding strong opponents who oppose the agency's overreach?
John E. Deaton referred to Alderoty’s statement. In the last sentence, Deaton says that the summary judgment brief could already be a prelude to an appeal brief, which is very interesting.
“I have no doubt Ripple will win, and the current Supreme Court will shut down the SEC’s gross overreach. The West Virginia vs. EPA case is all you need to read to agree with me. Ripple’s summary judgment brief is already an extremely well-written appellate brief.”
John E. Deaton, Managing Partner of the Deaton Law Firm
In the case mentioned by Deaton, the Supreme Court ruled that the Environmental Protection Agency (EPA) lacks congressional authority to limit emissions from existing power plants by switching to cleaner energy sources.
Deaton is probably referring to the fact that the SEC is overstepping its bounds with the XRP securities lawsuit and that Congress can only clear up the rules. The Supreme Court has the authority to require this.
At this point, however, there is no clear sign from a Ripple executive that the company is ready to continue its fight in the Supreme Court. In the past few months, several Ripple executives have said they hope the court case will end well.
At press time, Ripple shares are offered below $20, and there seems to be good volume there. You can contact us here to invest.
