Fun

News Feed - 2023-10-04 03:10:55

Tom Mitchelhill2 hours agoLawyers debate over Ripple case after rejection of SEC’s motion for appealCrypto lawyer Jeremy Hogan described the recent order as a “disaster” for the SEC, but other legal commentators are urging the community to temper its excitement for now.1657 Total views12 Total sharesListen to article 0:00NewsJoin us on social networksCrypto lawyers are seemingly divided over the significance of a recent court order from Judge Analisa Torres, who denied the United States Securities and Exchange Commission’s (SEC) plan to file an interlocutory appeal against Ripple.


While many lawyers and commentators chalked the decision up as a substantive win for Ripple in its case against the regulator, other legal experts have urged the public to temper their enthusiasm.


Torres denied the SEC’s interlocutory appeal based on the grounds of her previous ruling, which sided partially in favor of Ripple. She said this did not necessitate an order that “involved a controlling question of law,” which is an essential condition for approving an interlocutory appeal.Breaking: Judge rejects SEC’s motion to file an appeal against Ripple ruling— Cointelegraph (@Cointelegraph) October 3, 2023


An interlocutory appeal is simply an appeal made during a trial, which, in this case, is the proceedings by the SEC against Ripple, its CEO Brad Garlinghouse and executive chairman Christian Larsen.


Bill Hughes, a lawyer at blockchain firm ConsenSys, told Cointelegraph that the rejection of the SEC’s appeal was something he’d expected, explaining that it’s not typical for such an appeal to make it through during this part of a trial.


On the other hand, crypto lawyer Jeremey Hogan was more confident that the decision was a “disaster” for the SEC. Hughes, however, disagreed.The SEC's motion for interlocutory appeal DENIED.

Which means, the case either goes to trial in April, or goes away.

AND, this Order allowed the Judge to explain parts of her ruling even better, making appeal that much harder for the SEC to win.

Disaster for the agency. https://t.co/y1Gz8LolrG pic.twitter.com/hkktKMD4Ut— Jeremy Hogan (@attorneyjeremy1) October 4, 2023


“The court says that [Torres’] ruling is limited to this case. Frankly, that’s fine for the SEC if they don’t mind one case not telling you very much about the next,” Hughes explained.


Similarly, Gabriel Shapiro, general counsel at Delphi Labs, warned crypto advocates to temper their excitement over the ruling, explaining that the decision wasn’t an all-out loss for the SEC.


In an Oct. 3 post on X (formerly Twitter), Shapiro said that while the SEC’s motion for an appeal had been denied in this instance, the SEC could still appeal the case later.don't get too excited about the denial of SEC's interlocutory appeal in Ripple...it doesn't mean the SEC "lost its appeal"...it means that if the SEC wants to appeal it has to appeal everything at once after the trial...

still, some useful clarifications of Torres' opinion— _gabrielShapir0 (@lex_node) October 3, 2023


“It doesn’t mean the SEC ‘lost its appeal’... it means that if the SEC wants to appeal it has to appeal everything at once after the trial,” he said.


Still, as Scott Chamberlain, an entrepreneurial fellow at the ANU College of Law, explained, the decision may prove more significant for Ripple than others are willing to give credit for.


“Yes, the SEC can appeal later, but it is stuck with [a] shitty factual record that makes successful appeal much more difficult,” Chamberlain wrote.


Related:Ripple gets formal approval for Singapore payments license


Chamberlain added that any future appeal from the commission would most likely be heard in the Supreme Court as there are no major legal questions left to decide. All that’s left is the “difficult but ultimately mundane task of applying known law to a complicated fact matrix that doesn’t support the SECs claim.”“The law didn’t change. SEC failed to prove its case. Now it has to push shit uphill with a pointy stick if it wants to win.”


Ripple CEO Brad Garlinghouse also added his take to the mix, taking to social media to express his enthusiasm.The SEC’s request to file an interlocutory appeal is DENIED. I’m not a lawyer but it seems the Court just told the SEC: You asked me to apply the “Howey” test, I did, and like it or not, you lost. https://t.co/0E4MS0iuRY pic.twitter.com/bkhCpum17n— Brad Garlinghouse (@bgarlinghouse) October 4, 2023


As set out in the most recent court order, the trial on the matter is currently scheduled for April 23, 2024. If the SEC wishes to lodge an appeal, it must do so after the trial has concluded.


Magazine:Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis# Law# Business# Ripple# SEC# XRP# Court# RegulationAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokensBitcoin ETFs: A $600B tipping point for cryptoExpect new crypto regulations to follow Bitcoin ETFs

News Feed

US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
US Court Authorizes IRS to Issue Summons for Crypto Investors" Records The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relatin
Ana Paula Pereira5 hours agodYdX founder claims targeted attack led to $9M insurance claimdYdX founder Antonio Juliano said that the decentralized exchange as well as the Yearn.Finance token (YFI) are victims of a target
Web3 game Pixels now valued at $2.7B after migration to Ronin
Zhiyuan Sun6 hours agoWeb3 game Pixels now valued at $2.7B after migration to RoninThe project had been preparing for its listing on crypto exchange Binance for the past two years.1658 Total views1 Total sharesListen to
Bitcoin Loss Holders Highest Since October As BTC Crashes To $87,000
Este artículo también está disponible en español. On-chain data shows the number of Bitcoin loss addresses has shot up following the cryptocurrency’s dive toward $8
Crypto E-Commerce – Shopping․io Introduces $SHOP Back
Crypto E-Commerce - Shopping․io Introduces $SHOP Back press release PRESS RELEASE.Crypto E-commerce giant, Shopping.io is streamlining its operations.On September 9th 2022, Shoppi
‘Prohibitive’ Capital Rules for Banks Holding Crypto Win Support in EU Parliament
‘Prohibitive’ Capital Rules for Banks Holding Crypto Win Support in EU Parliament Lawmakers in the European Union have backed legislation imposing new capital requirements for
Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20,000, as Crypto Volatility Continues
Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20,000, as Crypto Volatility Continues BTC was trading higher on hump day, as bullish momentum picked up as the wee
XRP Price Flashes Signal That Triggered 600% Rally In November 2024
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
$2 Billion Worth of Unpeeled Casascius Physical Bitcoins: There’s Less Than 20,000 Coins Left Active
$2 Billion Worth of Unpeeled Casascius Physical Bitcoins: There"s Less Than 20,000 Coins Left Active While bitcoin continues to become more scarce every day, the most popular set o
Former CEO of Crypto Exchange Wex Dmitry Vasiliev Reportedly Detained in Croatia
Former CEO of Crypto Exchange Wex Dmitry Vasiliev Reportedly Detained in Croatia Dmitry Vasiliev, co-owner and former chief executive of the now defunct Russian crypto exchange Wex
$380M In Ethereum Leaves Exchanges In 7 Days – Accumulation Trend Accelerates
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Coinbase Receives Approval to Offer Full Suite of Crypto Products in Netherlands
Coinbase Receives Approval to Offer Full Suite of Crypto Products in Netherlands Crypto exchange Coinbase has received approval to offer its full suite of retail and institutional