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| Source: Coinmagzine |
The prolonged legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to capture attention, with former SEC chairman Jay Clayton sharing intriguing insights on the case. In a recent interview on The Future of Money podcast, Clayton expressed his anticipation of both Ripple and the SEC appealing Judge Analisa Torres's decision.
Clayton's Perspectives
Henri Arslanian, co-founder of crypto hedge fund Nine Blocks, interviewed Clayton, who offered his views on the Ripple case—his last case before leaving the SEC. Notably, Clayton expects appeals from both sides, emphasizing the possibility of further petitions to the court regarding decisions on what constitutes a security transaction.
Ripple's Regulatory Challenges
According to Clayton, the resolution of the Ripple case is still distant, considering the pending appeals and potential court petitions. He highlighted the distinction between securities transactions for capital raising and secondary trading. The court classified the capital-raising transaction as a securities transaction, while the definition of the secondary trading transaction was not. Clayton emphasized the SEC's commitment to rigorous regulation of public capital raising.
XRP Price Update
Meanwhile, XRP, the token at the heart of the lawsuit, is currently trading at $0.51. The cryptocurrency has seen a 1.42% decline in the day, a 4.06% loss over the previous week, and a 10.68% drop on the monthly chart as of February 5.
Conclusion
Former SEC Chief Jay Clayton's insights shed light on the Ripple vs. SEC saga, indicating a prolonged legal process with potential appeals. The cryptocurrency community closely watches these developments, recognizing the impact on regulatory dynamics within the industry.
Disclaimer: This information is not investment advice, and all investments carry inherent risks. Individuals should conduct their research and exercise caution when making financial decisions.
