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SEC appeal unlikely as it is profiting from ‘prevailing confusion’ – Hahn Ventures CEO

A former federal prosecutor turned chief government of a crypto-focused enterprise capital fund says she can be “shocked” if the USA securities regulator information an instantaneous enchantment in opposition to the choice within the Ripple case, as it’s at the moment “authorized”. advantages from an absence of “readability”.

On July 13, Choose Torres granted a partial abstract judgment in favor of Ripple Labs concerning XRP’s standing as a safety. On the time, some commentators warned that an enchantment to the SEC can be a risk.

Nonetheless, in a July 15 Twitter thread, Katie Hahn, CEO of Hahn Ventures Explained The securities regulator will probably stay silent as a result of it can profit from the “prevailing confusion” and shedding the enchantment might jeopardize its future enforcement actions.

“Something is feasible, however an instantaneous enchantment appears unlikely as a result of the company must ask a court docket to put aside this ruling as a part of the lawsuit and since I doubt the SEC actually seeks authorized readability,” Hahn stated.

“The Fee advantages from the present confusion and shedding these points on enchantment would jeopardize its whole enforcement agenda. So I’d be shocked if the SEC tries to enchantment now.”

Hahn is the most recent commenter to share this view.

On July 15, Ripple Labs CEO Brad Garlinghouse additionally believed that it might take “years” for the SEC to file an enchantment. He added that the SEC’s enchantment will solely strengthen Choose Torres’ ruling that XRP shouldn’t be a safety.

In a video posted to YouTube the identical day, American lawyer and Ripple commentator Jeremy Hogan stated he believed the SEC would launch an enchantment after the lawsuit between the SEC and Ripple ends, which might start in early 2024. is outlined.

The SEC is at the moment suing crypto exchanges Binance and Coinbase over alleged violations of securities legal guidelines. Some imagine that the latest Ripple case determination, though not a binding precedent, might have an effect on the result of the instances.

Linked: Former SEC Official Says Ripple’s Choice Is ‘Troublesome on A number of Fronts’

In the meantime, many crypto commentators and lawmakers have referred to as on Congress to behave in mild of the latest determination and provides authorized readability to crypto.

Brian Quintenz, former commissioner of the Commodity Futures Buying and selling Fee – now head of coverage at enterprise capital fund a16z crypto – where did it go The latest Ripple court docket ruling “has solely created extra uncertainty for entrepreneurs and builders.”

US Senator Cynthia Lummis stated the choice underscores the pressing want for Congress to determine a transparent and complete regulatory framework for the cryptocurrency business.

journal: Crypto Regulation: Does SEC Chairman Gary Gensler Have the Remaining Choice?