A former federal prosecutor Kathryn Haun, who is now the CEO of a crypto-focused venture capital fund, Haun Ventures, expressed her views on the possibility of an immediate appeal from the SEC regarding the ripple case ruling.
Haun stated that SEC wants to maintain the current confusion because it favors them in categorizing crypto tokens.
SEC benefits due to a lack of regulatory clarity surrounding digital assets, losing an appeal could jeopardize its future enforcement actions.
Judge Analisa Torres on July 13, granted partial judgment in Ripple’s favor stating XRP is not a security.
On July 15, Katie Haun expressed her views on Twitter regarding an immediate appeal to SEC. Ripple Labs CEO Brad Garlinghouse supported the statement of Katie Haun on Ripple that the SEC might take several years to appeal.
Ripple Labs CEO Brad Garlinghouse further said that an appeal from the SEC would only strengthen Judge Torres’ decision that XRP is not a security.
The scheduled trial between SEC and Ripple ends in 2024, so SEC might launch an appeal after the trial, says Jeremy Hogan, a U.S. prosecutor, and Ripple commentator.
The SEC is currently involved in lawsuits with some leading crypto exchanges Binance and Coinbase for alleged securities law violations.
The former commissioner of the Commodity Futures Trading Commission and head of policy for crypto venture capital fund a16z, Brian Quintenz, said the Ripple case’s ruling only adds more uncertainty to the crypto community.
U.S. Senator Cynthia Lummis stated that the verdict of Ripple’s case strengthens the immediate requirement for Congress to provide a thorough crypto framework that prioritizes the safety of consumers.
Lummis said in an interview at her office. “We can put sufficient consumer protections and safeguards on this industry so that something like the failure of FTX would likely not happen in the United States.”
Also Read: SEC vs Ripple Lawsuit: Ripple Marks Significant Win
