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Also Read: Microsoft Partners With Aptos Labs For AI And Web3 Fusion, APT Token Spikes 18% advertisement US SEC’s Appeal May Fall Short: Attorney Analyzing the Summary Judgment by Judge Torres in the historic July 13, 2023 ruling, Deaton said there was no evidence to support the Third Howey Test, which states that “a person invests his money in a common enterprise and is led to expect profits.” He added that the US SEC would still face a hurdle when it comes to satisfying the common enterprise part. Attorney Deaton said he even offered to bet that the verdict will not be overturned. “I’m willing to bet a significant sum that she (Judge Analisa Torres) won’t be overturned.” Concerns of a possible appeal by the SEC grew when the agency’s lawyers said they intend to seek a review of the XRP ruling after Kwon cited Judge Torres’ ruling as a precedent. Recommended Articles ...

Ripple CLO Presumes SEC is Political Alderoty shared a tweet in response to an earlier tweet from the company’s CEO, Brad Garlinghouse who accused the market regulator of leading a retail protection campaign that is hurting investors beyond imagination.  advertisement Commenting on this, Alderoty said the SEC is exercising power in a market where it has no jurisdiction. The Ripple CLO noted that the SEC claims crypto are securities but when there is no security to pursue, then there is no role for the market regulator to enforce. In all, Alderoty is of the perception that the SEC’s actions are more or less a political power play that benefits no one at all. “A securities agency only has jurisdiction over securities. No security, no role for the SEC. Pretending to have jurisdiction when there is none, is simply a political power play. It helps no one; it hurts everyone,” he said in his tweet. The Ripple executives and stakeholders ...