Clayton’s comments make reference to the legal dispute. The analysis by Judge Torres enhances Ripple’s standing in the court of law.
The long-running legal dispute between the SEC and Ripple has former SEC chair Jay Clayton weighing in, suggesting that the matter could not be resolved any time soon.
Recently, Clayton dropped hints that the SEC would challenge Judge Analisa Torres’ decision in the case during an interview with Henri Arslanian on the Future of Money Podcast. Using the previous ruling on programmatic sales as an example, he asked whether the appeals court would reach the same outcome.
Since Clayton oversaw the SEC at the time the action against Ripple was launched, his remarks have aroused curiosity within the XRP community. Many have speculated about the possible results since his words imply ongoing engagement or interest in the matter.
Legal expert Bill Morgan, who is in favor of XRP, has commented on the SEC’s chances of winning their appeal of Judge Torres’ decision on programmatic sales. The SEC acknowledged that the facts pertaining to each type of sale were separate, and Morgan claims that Judge Torres painstakingly examined these facts.
It will be difficult for the SEC to succeed with an appeal since Judge Torres, after giving it some thought, distinguished between the XRP token and Ripple’s sale of the token. This distinction emphasizes the significance of the relevant facts in determining whether a transaction qualifies as a security.
The future of ODL contracts is unclear, even if Judge Torres’ decision may have been good for Ripple in terms of programmatic sales. Ripple has the option to appeal Judge Torres’ finding in order to get greater legal clarification on the topic since she did not distinguish between ODL contracts and institutional transactions.
It is clear from Clayton’s comments and the possibility of more appeals that the legal dispute between Ripple and the SEC is significant and complicated. The decision may have a significant impact on Ripple, the XRP coin, and the entire cryptocurrency market.