Ripple v. SEC case update as of October 9, 2023
Amid the long-running court standoff between Ripple and the United States Securities and Exchange Commission (SEC), another battle wages on social media – between those who believe that the recent court decision has no major impact on the cryptocurrency industry and those who disagree. As it happens, former SEC attorney John Reed Stark commented on Judge Analisa Torres’s recent rejection of the agency’s request for an interlocutory appeal, referring to it as “a pyrrhic victory at best for the XRP team,” in an X post published on October 6. Impact on cryptoverse According to Stark, the regulator “will still undoubtedly appeal the decision after the trial, and I believe, have a good chance of winning,” as the Judge “has specifically deemed her decision as NOT precedent for the rest [of the] cryptoverse.” Furthermore, he dismissed the importance of Judge Torres’s most recent decision “as precedent on the issue of whether tokens are securities,” arguing that “the Court did not ho...