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Ripple and the Securities and Exchange Commission (SEC) case has had a significant impact on the cryptocurrency market, especially on XRP. With the positive preliminary decision, XRP experienced a significant surge as if it had won the case. The court, which reached a preliminary decision that XRP is not a security, has not yet made a final ruling. However, a well-known expert has pointed out a serious danger associated with this.
SEC Will Appeal the XRP Decision
John Reed Stark, a former SEC executive, drew attention to an important point. Stark emphasized that this positive decision regarding XRP is based on an unstable ground. The renowned figure reminded that the SEC will definitely appeal and stated that this could potentially lead to a reversal of the decision.
In the court decision in question, it was emphasized that XRP can sometimes be considered a security and sometimes a commodity. While Ripple’s corporate sales within the United States were considered securities, it was decided that XRP transactions for regular buying and selling were not securities.
As can be seen from the graph, the price of XRP experienced a significant surge and reached $0.91. However, Stark emphasized that this is not likely to be sustainable.
It is quite remarkable that the court made a securities decision for one action but not for another. Stark also highlighted that there will be an appeal due to the uncertainty of the decision. In fact, there are interesting details and comparison results in both Ripple and Telegram cases.
Telegram’s Decision in the Ripple Case
While the Ripple decision stated that it is relatively a security, according to Stark, a clear securities decision was made for Telegram. Stark stated that the decision actually highlights the lack of understanding of individual investors. The SEC official, who argued that this is an insult, stated that the Telegram case could be considered as a precedent.
According to Stark, the SEC will soon appeal and interesting results can be expected from this appeal. Initially, XRP may experience a sharp decline with such news, which can negatively affect XRP. However, if the SEC receives a negative response after the appeal, it can ignite an unstoppable rally for XRP.
Fud. Clowns wrote this legal review
fud fud fud..someone wants to buy cheap
Rubbish. The SEC has a bloodied nose. It would only make things a lot worse for them & ruin their chances of effectively pursuing cases against other tokens.