• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Ripple Vs. SEC Supreme Court
Advertisement

Ripple Will Appeal Immediately If It Loses To SEC, Chief Legal Officer Says

Jake Simmons by Jake Simmons
3 weeks ago
in Ripple
0
Advertisement

Stuart Alderoty, the chief legal officer (CLO) of Ripple Labs, has revealed in a new interview that the fintech company will immediately appeal if judge Analisa Torres grants summary judgment in favor of the US Securities and Exchange Commission (SEC).

Until now, it was not clear whether Ripple would take that step and bear the enormous costs of the trial or simply leave the United States for a crypto-friendly country. Ripple CEO Brad Garlinghouse philosophized about this several times in the past, leaving the possibility open.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Ripple Would Go All the Way To Supreme Court

As Alderoty discussed in the interview, there are three possibilities for how the legal battle between Ripple and the SEC will play out. The first scenario is that Judge Torres grants summary judgment in Ripple’s favor, which would provide regulatory clarity for the company.

A summary judgment victory would finally allow Ripple to expand in one of the world’s largest markets after more than two years of fighting and a mandated halt to all activity in the United States. “We [would] have this incredible business opportunity in the US, that is evergreen for us,” Alderoty remarked.

Related Reading: Ripple Is In Dialogue With Over 20 Central Banks On CBDCs, Exec Reveals

On the other hand, the judge could rule that there are disputed facts that need to be resolved in a lawsuit. In the third scenario, Ripple would lose in summary judgment against the SEC, prompting the blockchain company to file an immediate appeal.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

“It’s not an issue of fraud, or market manipulation, it’s a question of law,” Alderoty said. The case would then go to the United States Court of Appeals for the Second Circuit. The subsequent step would then be the Supreme Court, where Alderoty believes his company has a high chance of success, even if there are many “ifs” along the way.

“I would be supremely confident that this is a winner in the Supreme Court, not so much because of the crypto issues but because of the guarding against building an administrative state, “Alderoty remarked, referring to the court’s current conservative majority.

“Get out of the US!”

The lawyer also talked in the interview about what advice he would give to new crypto projects, and the answer is drastic: Get out of the United States.

Related Reading: Ripple Calls For Recusal Of Gensler From Crypto Cases, Here’s Why

According to the Ripple CLO, new crypto projects should be incorporated in a jurisdiction with clear rules for the industry. In addition, the US Securities and Exchange Commission is not to be trusted. “Don’t trust these guys,” he said. “It’s not a level playing field.”

With this, Alderoty alludes to a tweet of himself from Monday, in which he attacked SEC chairman Gary Gensler for already being vocal about his opinion of cryptocurrencies as securities ahead of the decision of an enforcement action.

However, as Bitcoinist reported, this can also have negative legal consequences for the SEC, as the Antoniu v. SEC (8th Cir. 1989) case is showing. With his statement, Gary Gensler (theoretically) disqualified himself from participating in a vote on a crypto-related securities case, according to the ruling.

At press time, XRP was trading at $0.3660, down 3% in the last 24 hours.

Ripple XRP USD price
XRP price, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from Claire Anderson | Unsplash, Chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Jake Simmons

Jake Simmons

Related Posts

SEC vs Ripple

Ripple Letters Get SEC Reply, How It May Affect The Ruling

1 day ago
Ripple SEC

Ripple Bolsters Its Case Vs SEC With New Filing, Ruling By End Of April?

4 days ago
Ripple SEC Coinbase XRP listing

Coinbase To Relist XRP Immediately After Ripple Win? Here’s When

1 week ago
Ripple vs SEC Fair Notice

Voyager Judge Provides Ripple Another Victory Argument In Battle Vs. SEC

1 week ago
Ripple XRP

Ripple Vs. SEC: XRP Holders Need A ‘Thin Win,’ Here’s Why

1 week ago
Ripple Cryptocurrency

Here’s How Ripple Execs Assess The US Banking System Crisis

2 weeks ago

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Tokens To Watch In Q2 2023: Aptos (APT), Optimism (OP) And...

    3 hours ago
  • Market Experts Predict Big: TMS Network (TMSN) Will Beat...

    4 hours ago
  • XRP Price Breaks Out Of Multi-Year Wedge: XRP Price...

    6 hours ago
  • Is it the right time to ditch Solana (SOL), Shiba Inu...

    6 hours ago
  • Top 6 DeFi Tokens to Buy for Big Profits in 2023

    22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.