August 30, 2023 at 02:06 PM GST 1 min read News
  • Grayscale’s legal victory against the SEC has been met with applause from Ripple’s leadership.
  • Ripple’s own partial win against the SEC adds to the regulator’s recent courtroom setbacks.
  • Stuart Alderoty, Ripple’s CLO, highlights the SEC’s legal inconsistencies and penalties for “discovery abuse.

In a groundbreaking ruling, the District of Columbia Court of Appeals has mandated the SEC to revisit its denial of Grayscale’s Bitcoin ETF application. The crypto market has reacted positively, with asset prices surging. Ripple’s CEO, Brad Garlinghouse, and Chief Legal Officer, Stuart Alderoty, were quick to criticize the SEC’s inconsistent legal stance.

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This comes just weeks after Ripple itself clinched a partial victory against the SEC. Alderoty took to Twitter to lambast the SEC for its courtroom failures, describing the regulator as both hypocritical and unfaithful to the law. He also noted that the securities regulator had been fined by the court for “discovery abuse” and called their denial in the Grayscale case arbitrary.

The legal landscape for crypto is shifting, and Ripple stands to benefit. With the SEC’s credibility in question, the future for Ripple and its native token, XRP, appears increasingly optimistic. These legal wins could herald a new era of regulatory leniency and broader crypto acceptance.

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