Stuart Alderoty, chief legal officer at Ripple, has already commented on the U.S. Securities and Exchange Commission's latest legal setback, claiming that the agency's "anti-crypto crusade" is now imploding.

The Third Circuit Court of Appeals dubbed the agency's actions "arbitrary" and "capricious" regarding the agency's rejection of Coinbase's petition that was seeking comprehensive rulemaking. The SEC has been requested to provide the reason for its denial. 

The court has stated that "sporadically enforcing ill-fitting rules" against various cryptocurrency companies goes beyond merely fighting fraud. 

HOT Stories Top Ripple Lawyer Says Gensler ‘Anti-Crypto Crusade’ Is Imploding Stellar (XLM) Below Key Indicator, Solana (SOL) Bull Run Officially Ended? Ethereum (ETH) on Verge of Ending It Legendry Hedge Fund Manager Lambasts Bitcoin JPMorgan: XRP ETF Might Attract $8 Billion

Related
Mon, 01/13/2025 - 05:53 JPMorgan CEO Doesn't Feel Great About Bitcoin
Alex Dovbnya

According to Alderoty, Judge Stephanos Bibas has "laid bare" what the cryptocurrency industry has been saying for years. The top Ripple lawyer argues that the current SEC administration was attempting to ban the industry outright by selectively enforcing securities laws. 

Did Coinbase actually win? 

Despite Coinbase CLO Paul Grewal stating that Coinbase won its petition for a writ of mandamus at the Third Circuit, attorney Fred Rispoli states that this is not the case. In fact, Coinbase lost on almost every argument, and the petition issue can be remedied by the SEC upon remand. 

However, the concurrence highlighted by Alderoty might bode well for Ripple since it embodies Ripple's appellate argument. 

"There is a phenomenal concurrence by Judge Bibas (p.50) that is exactly what Ripple is appealing: That old, musty dusty crusty rules from a century ago don't work for crypto," he said.  

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。