Former U.S. Securities and Exchange Commission (SEC) executive Joseph Hall says he’s “perplexed” by the SEC’s lawsuit against Ripple.
The regulator sued the San Francisco-based payments company in December of 2020 for allegedly issuing XRP as an unregistered security and claims XRP
remains an unregistered security to this day.In a new interview with the Thinking Crypto podcast, Hall says that he’s “sympathetic” to Ripple’s “fair notice defense.”
“I’m very sympathetic to that argument. It’s a basic due process argument. The Ripple network was operating for years before the last-minute filing of a lawsuit against them.”
Hall worked for the SEC from 2003-2005, concluding his time at the Commission as managing executive for policy, he’s now a partner at the law firm Davis Polk.
The lawyer says the SEC has a lot riding on the Ripple case, whose mission is to protect investors.
“Their entire regulatory project could be basically shut down if they lose on the merits here. And I continue to think there’s a pretty good chance that they will lose on the merits.”
He predicts that there will be appeals on the case “no matter what happens at the district court level.”
“I wouldn’t be banking on a tidy resolution of this case over the course of this year. Settlement is always a possibility. That could happen out of the blue, but from an outsider’s perspective, which is all I have on it, both sides seem to pretty dug into it right now.”
I
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf BitcoinLinux Mix
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.
Featured Image: Shutterstock/Vit-Mar/Tun_Thanakorn
The post Former SEC Insider Says Regulator Has ‘A Lot Riding’ on Case Against Ripple appeared first on BitcoinLinux.
