Lawyer: US SEC has to appeal after ruling on XRP
In the aftermath of Ripple’s victory over the United States Securities and Exchange Commission (SEC), retired securities lawyer Marc Fargel shared his skeptical insights on social media. Despite his reservations, he acknowledged that crypto enthusiasts should find solace in certain aspects of the ruling . SEC’s secondary market trading claims Fargel is concerned that the court’s reasoning may challenge the SEC’s claims about secondary market trading of assets, including cryptocurrencies. He argues that Howey concerns economic reality and has no rational basis for such disparate treatment. I have no skin in the game and don’t really care. My opinion is that both sides will appeal, and the SEC has a better than even chance of getting the ruling on the “programmatic sales” reversed. — Marc Fagel (@Marc_Fagel) July 16, 2023 Consequently, he predicts investors cannot expect profits from a third party if an asset is indirectly purchased. However, t...
