Ripple’s Top Lawyer Slams SEC For ‘Hypocritical’ Appeal ByNancy LubalePRO INVESTOR Updated: 11 September 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Ripple Labs’ top lawyer said the SEC’s appeal against a landmark court ruling in July in favour of the token XRP is ”hypocritical.” “After years of its chairman saying the `rules are clear and must be obeyed,’ the SEC now cries that an appeal is urgently needed to resolve these ‘knotty legal problems,”’ tweeted Stuart Alderoty, Ripples’ chief legal officer and general counsel. The landmark court decision gave Ripple a partial win against the SEC when it was ruled that XRP is not a security when sold to the public. But the court also ruled that XRP is a security when sold to institutional investors, giving the regulator a partial win. Another SEC filing, another hypocritical pivot… After years of its chairman saying the “rules are clear and must be obeyed” the SEC now cries that an appeal is urgently needed to resolve these “knotty legal problems." https://t.co/ige4neIWRD — Stuart Alderoty (@s_alderoty) September 8, 2023 SEC Also Criticised By Other Lawyers The SEC’s move also has attracted criticism from other lawyers. “The SEC’s argument that Judge Torres should stay the proceedings because the SEC is all of a sudden concerned about conserving judicial resources is laughable,” tweeted James K. Filan. Ripple has asked that the SEC’s request for an appeal be rejected, claiming that the court’s summary judgment “does not present a controlling question of law suitable for interlocutory appeal.” Related Articles Thodex Crypto Exchange Founder Sentenced to 11,169 Years in Turkish Jail yPredict Calls for Beta Testers to Try WriteMingle: AI-Driven SEO Content Creation and Management Tool Binance CEO Changpeng Zhao Lashes Out At ‘FUD’ Over Executive Exodus, Says Company Has No Liquidity Issues New Crypto Mining Platform - Bitcoin Minetrix Rating Audited By Coinsult Decentralized, Secure Cloud Mining Earn Free Bitcoin Daily Native Token On Presale Now - BTCMTX Staking Rewards - Over 10,000% APY Learn More Join Our Telegram channel to stay up to date on breaking news coverage