- While denying SEC’s appeal bid, Judge Torres ruled her previous judgment on XRP cannot be cited as precedent.
- Former SEC Chief analyzes Ripple’s victory, noting its implication for the broader crypto verse.
- The Ex-SEC Chief says lawyers citing XRP’s victory decision risk ethical charges.
John Reed Stark, the former Chief of the SEC Office of Internet Enforcement, has taken to the X platform to share his discernment on Ripple’s recent victory against the U.S. regulator. The lawyer noted that Judge Torres’ decision to deny the SEC’s request for an interlocutory appeal carries significant implications for Ripple and the broader crypto community.
In particular, Stark highlighted that while denying the SEC’s appeal bid, the judge ruled that her previous victory judgment on XRP’s non-security status cannot be cited as precedent unless the facts of a new case align precisely with those of the Ripple case.
Stark believes that this outcome, while possibly seen as a partial victory for Ripple, may be short-lived.
“While this could be a pyrrhic victory at best for the XRP team… Judge To…
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