Wednesday
Oct022024
Stuart Alderoty (Chief Legal Officer) at Ripple on the SEC's decision to appeal
Wednesday, October 2, 2024 at 07:46PM (1) The SEC's decision to appeal is disappointing, but not surprising. This just prolongs what's already a complete embarrassment for the agency. The Court already rejected the SEC’s suggestion that Ripple acted recklessly, and there were no allegations of fraud and, of course, there were no victims or losses.
(2) Instead of faithfully applying the law, this agency, under this Chair, continues to engage in litigation warfare against the industry. We are evaluating whether to file a cross appeal. Either way, the SEC's lawsuit has been irrational and misguided from the start, and we're ready to prove that yet again in the appellate court (once again taking the lead for the industry).
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