The U.S. Securities and Exchange Commission (SEC) is now at a critical juncture following Judge Analisa Torres’ recent ruling in the ongoing trial. This decision leaves the SEC with no shortage of difficult deliberations, making finding the next step in the case a significant challenge. Cryptocurrency lawyer James A. Murphy believes the agency will most likely opt for a provisional appeal and attempt to convincingly demonstrate to both Judge Torres and 2nd Circuit Court of Appeals that such an appeal can result in major advances of the case, lack of which could leave major consequences. The fateful decision is encased in a larger regulatory drive brewing within the SEC, which is buoyed by the agency Chairman, Gary Gensler, to annul the Torres ruling. Agreement among others in the crypto-verse is dire for the SEC to overrule it and advance “regulation by sanction” pillar of the cryptocurrency industry deregulation. In a possible alternative, the regulator might opt to probe Ripple CEO and co-founder regardless of appealing Judge Torres’ words. Additionally, the SEC might hash-out the appeal without consent of either party concerned, although this understates probable of settlement emerging. Consequendly, potential outcomes in the coming weeks will determine the foundation and nature of the intense legal conflict in which these decisions lie. Stay alert, as whichever stand the SEC takes with this pressisode has vital implications.
