Could this decision affect Ripple's ongoing fight with SECGov?
a stark warning regarding the ongoing legal battle between the Securities and Exchange Commission and Ripple Labs.
Stark pointed to a recent decision made by the Southern District of New York District Judge, Jed Rakoff, that allowed the SEC to proceed with a case against Terraform Labs and its founder, Do Kwon.case, Rakoff dismissed the distinction made between public and institutional sales. Stark's comments suggest this ruling could severely impact the ongoing Ripple case, with the SEC potentially leveraging this precedent to appeal against Ripple.Rakoff's ruling against Terraform Labs had strong implications for the cryptocurrency sector.
on social media, arguing that the Terra case ruling has no bearing on Ripple. Alderoty claimed that the judgment was based on a preliminary assessment of the SEC's allegations against Terra, contrasting it with the Ripple ruling, which came after a full factual record was presented.his interpretation, asserting that Rakoff's ruling was based on the unique specifics of Terra's operations rather than how cryptocurrencies generally function.
Both Alderoty and Schwartz stressed that while the judge disagreed with the Ripple case ruling, the crux of the argument revolved around the distinct facts of each case, rather than a blanket judgment on cryptocurrencies.
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