- Legal experts’ opinions vary on the SEC’s chances in the Ripple appeal.
- Bill Morgan suggests a slim 3% chance of success for the SEC.
- Government data presented by Jeremy Hogan contradicts Morgan’s prediction.
In a legal showdown that has captured the attention of the cryptocurrency world, opinions on the United States Securities and Exchange Commission’s (SEC) chances in its ongoing appeal against Ripple vary widely.
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Prominent Lawyer’s Assessment
Renowned lawyer Bill Morgan, a close observer of the Ripple lawsuit, recently shared his perspective on the SEC’s appeal. He contends that there’s a minimal likelihood of the SEC prevailing in the case, putting their chances at a mere 3%. In a Twitter post, Morgan noted, “I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test.”
Government Data Offers Different Insight
However, this assessment diverges from government data shared by prominent attorney Jeremy Hogan. According to this data, the SEC has a 14.2% chance of winning the appeal against Ripple. Hogan’s figures are based on the success rates of appeals in various types of lawsuits, indicating a more favorable outlook for the SEC.
Ripple’s Victory and the Ongoing Battle
The legal saga between the SEC and Ripple has spanned three years. The culmination of this protracted dispute saw a judge ruling that the sale of XRP on crypto exchanges does not violate securities law. This judgment marked a significant victory for Ripple, which had faced considerable business challenges as major crypto exchanges delisted XRP during the SEC lawsuit.
In a previous appeal, the SEC was dealt a blow when Judge Analisa Torres ruled on October 4, stating that the security regulator had failed to demonstrate controlling questions of law or substantial grounds for differences of opinion on the ruling.
Ripple’s Chief Legal Officer Weighs In
In a tweet that added to the ongoing conversation, Ripple XRP’s Chief Legal Officer made a strong statement.
This statement underscores the intensity and differing perceptions surrounding the ongoing legal battle.
In summary, the SEC’s appeal against Ripple remains a topic of debate among legal experts, with varying assessments of its prospects for success.
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