Ripple is preparing to take a significant step today in response to the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) regarding XRP. The company will file Form C, which will outline the key points of its appeal, in the Second Circuit Court of Appeals. This comes as the SEC appeals the recent district court decision that classified institutional sales of XRP as unregistered securities sales.
Ripple’s chief legal officer, Stuart Alderoty, is optimistic about the appeal, citing the Second Circuit’s historical stance against the SEC and regulatory overreach. He believes that statistically, the chances of success in the Second Circuit are low for cases that were lost in district court.
Ripple’s CEO, Brad Garlinghouse, shares this confidence and believes that they will win the appeal, undermining SEC Chairman Gary Gensler’s plans for stricter crypto regulation.
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