SEC Losing Grip On Supreme Court Case; Will This Help Ripple?
XRP News: U.S. Securities and Exchange Commission (SEC) is actively sending legal warnings to digital asset linked firms in order to provide regulatory clarity to the industry. However, the SEC is reportedly facing back to back defeats in the apex court of the United States despite pressing charges against the crypto leaders and firms.
Also Read: US SEC Might Face Jury Over Ripple’s Fair Notice Defence
Apex Court Slams U.S. SEC
As per reports, U.S. Supreme Court in an order made it easier for businesses to appeal against the Securities and Exchange Commission and the Federal Trade Commission (FTC). This includes suing regulatory agencies for constitutional violations in key sectors of the economy.
The big decision announced by the Apex Court was related to the Cases- Axon Enterprise Vs FTC and SEC Vs Cochran.
However, this announcement comes in amid the pending summary judgment in the U.S. SEC Vs Ripple lawsuit. In the recent update, Defendants Ripple Labs, Brad Garlinghouse and Chris Larsen slammed the commission in a reply to there a letter of Supplemental Authority. Read More XRP News Here…
Ripple stated that the US SEC mentioned a out of circuit and unpublished district court opinion. It added that in the commonwealth case, the defendants stated that there is no prima facie evidence that can support SEC’s defense against the Fair Notice argument.
Also Read: 3.5 Trillion Shiba Inu Moved Ahead Of Binance Upgrade
Stuart Alderoty, Chief Legal Officer of Ripple highlighting the Supreme Court verdict stated that the commission has now lost 5 of its last 6 cases. Earlier, it mentioned that only few had the courage and right resources to fight back against the commission’s bully.
It is likely of Ripple and the defendants to utilise the Supreme Court in the XRP lawsuit. Earlier, they mentioned a Supreme Court ruling in the case.
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