John Reed Stark, an ex-official of the Securities and Exchange Commission (SEC), has offered his critical viewpoint on the recent Ripple case development
John Reed Stark, a former official of the Securities and Exchange Commission (SEC), provided a detailed analysis of Judge Torres’s recent decision in the Ripple case.
Many have interpreted the denial of the SEC’s appeal request as a Ripple victory, but Stark points to potential challenges ahead.
More challenges
Stark stressed that there is a possibility of the regulator watchdog launching a successful appeal post-trial.
He praised attorney John Deaton and the XRP community for challenging the SEC’s actions but maintained his belief that these defense strategies might not impact the final outcome.
He warned lawyers against citing Judge Torres’s decision as precedent, suggesting that doing so might risk an ethical violation given that the judge has clearly stated her decision should not serve as a general precedent.
Earlier this week, the SEC’s request for an interlocutory appeal was rejected by the court in a win for Ripple. However, as reported by U.Today, legal experts believe an appeal may still be possible after the trial concludes.
Alderoty’s response
Stuart Alderoty, general counsel for Ripple, responded to Stark’s comments, pointing out that XRP and Bitcoin might be the only digital assets with legal clarity.
In his reply, Stark acknowledged Alderoty’s perspective and recognized the stakes for XRP holders. He once again stressed his belief that the decision could be overturned and shared articles explaining his stance on the SEC’s crypto enforcement program.
The former SEC official also admitted admiration for the defense’s tactics, citing his previous critiques of the SEC’s practices.
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