Ripple Vs SEC Update: Lawyers Reveal How SEC’s Reply Impact Final Decision

Ripple vs. SEC Update: Intensified Legal Battle

In a pivotal development in the ongoing legal saga between Ripple and the SEC, the SEC's recent filing has reignited controversy.

Ripple's Argument: Binance Ruling as Precedent

In a previous filing, Ripple cited the court's recent decision involving Binance to counter the SEC's proposed penalties. The SEC's response refutes this, dismissing Ripple's reliance on the Binance ruling as irrelevant.

SEC's Defense: Ripple's Conduct Distinct

The SEC argues that Ripple's alleged conduct differs significantly from the Binance case. They assert that Ripple's "reckless disregard for the law" warrants strong penalties, despite the Binance ruling.

Crypto Expert's Reaction: SEC's Frustration

Crypto lawyer Bill Morgan suggests the SEC's language reflects their frustration with the Binance ruling being used against them. He notes that the SEC often dismisses unfavorable decisions as "not an authority."

Fair Notice Defense: SEC Highlights Binance Dismissal

The SEC's filing emphasizes that the court in the Binance case also rejected the fair notice defense, which Ripple has asserted. They cite the SEC's 2017 DAO Report as ample notice to the industry.

Ripple's Aim: Tailored Regulations for Digital Assets

Ripple's reference to the Binance case seeks to highlight the need for tailored regulations specific to digital assets. They argue that existing securities laws may not be directly applicable to cryptocurrencies.

Legal Experts' Views: SEC's Response Criticized

Legal expert Jeremy Hogan criticizes the SEC's response as evasive, lacking substantive reasons to disagree with Ripple's interpretation of the Binance ruling. He calls for more concrete arguments from the SEC.

Ripple's Strategy: Clarity and Consistency

Ripple's use of the Binance case aims to demonstrate inconsistencies in the SEC's approach to digital asset regulation. They seek reduced penalties and clear guidelines to ensure fair enforcement and industry compliance.