An appeal from the Securities and Exchange Commission (SEC) in its case against Ripple Labs does not represent a significant blow to Ripple’s recent courtroom victory, according to crypto lawyer John Deaton.

“An appeal is not even close to a setback,” Deaton said, pushing back against a claim made on Twitter. “Don’t let anyone underestimate how significant this win is.”

Deaton’s comments came after federal district judge Analisa Torres ruled earlier this month that XRP, the token that powers Ripple’s payments network, is “not necessarily a security on its face”—except for instances when it was sold to institutions to raise funds.

Ripple has been engaged in a legal battle with the SEC since 2020, when the regulator accused Ripple of raising $1.3 billion in unregistered securities offerings.

SEC Chair Gary Gensler has Go to Source to See Full Article
Author: André Beganski

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