Summary
- The Ripple vs. SEC (Securities and Exchange Commission) case is moving forward after the SEC appealed.
- Marisa Talshman, the Senior Counsel of the Blockchain, has shared her opinion on how the parties should approach the case.
- She feels that the judges’ approaches should be compromised for one decision.
Marisa said that the SEC must get approval from Judge Torres and the 2nd Circuit for the case to continue. She termed the procedure as the “procedural labyrinth” which involved seeking consent at every level.
The reason why the SEC would seek an appeal before the trial comes to an end is because it wishes for Judge Torres’ decision to be rechecked.
The Senior Counsel continued by saying that Judge Rakoff was not as clear as Judge Torres when she said that tokens do not represent investment contracts.
9/ Putting aside the positive language in Ripple re other distributions that Rakoff did not touch, Rakoff’s order decides a motion to dismiss, which requires the court to take the allegations as true.
No discovery took place; no external evidence. HUGE difference from Ripple.
— Marisa Tashman Coppel (@MTCoppel) August 22, 2023
At the same time, she mentioned the contrasting viewpoints. Here, she mentioned how Judge Torres had ruled in favour of the XRP token while Judge Rakoff held the opinion of refusing the motion to be dismissed in the Terraform Labs’ Case.
Marisa stressed the necessity of reviewing the contrasting perspectives, especially when it came to how investors were being managed.