SEC veteran explains to XRP community everything about appeal against Ripple
Yesterday, it was confirmed that the SEC officially filed an appeal in its case against Ripple. The appeal did not challenge the $125 million monetary penalty or the ruling on illegally obtained profits but instead focused on several key issues.
Instead, the appeal revolves around the SEC's belief that the district court made legal errors regarding the classification of No, that was never part of the case. Fagel further highlighted that if the SEC were to succeed in this appeal, it could result in additional penalties, though these would be directed toward investors or the U.S. Treasury, not the SEC itself.The appeals process is expected to involve a three-judge panel, with a decision likely to take up to a year. For now, the focus remains on the SEC’s argument that the court’s ruling on XRP sales could set a problematic legal precedent for future cases.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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