Crypto Case: Will the Supreme Court Give the Final victory to Ripple?

Mon 13 Nov 2023 ▪ 4 min of reading ▪ by Mikaia A.
Getting informed Crypto regulation

The SEC is now out of options, according to pro-crypto law experts who have followed the case against Ripple from the start. However, the matter is not quite closed. Aside from the remediation phase in which the crypto company might pay a hefty fine, a new showdown before the Supreme Court could soon take place between the two parties.

Photos of boxers, crowds, SEC and Ripple logos

Brad Garlinghouse Eager to Beat the SEC at the Supreme Court

John E. Deaton has already announced that the United States Securities and Exchange Commission has completely lost the case against the crypto company Ripple. In his view, Brad Garlinghouse and his team must prepare for the remediation phase where they will pay a fine that could reach 770 million dollars.

However, as fate would have it, the SEC only asked Ripple for 20 million dollars. Pro-crypto lawyer Deaton mentioned a 90/10 advantage in favor of the issuer of XRP earlier this week.

But at this stage, Ripple doesn’t seem to be out of the woods. According to Coin Gape, the case could take a new turn. Following a comparative analysis by lawyer Jeremy Hogan from a file similar to Ripple Labs’, an appearance before the Supreme Court is not to be ruled out. And it is currently a subject of debate.

The case in question concerns the clash between Morrison and National Australia Bank and highlights the sovereign rights of foreign countries.

It will be interesting because nothing less than the sovereign rights of foreign countries are at stake,” clarified Mr. Hogan.

Furthermore, this lawyer stated the Supreme Court requires that the sales of Ripple’s tokens must have taken place in the United States. Or at least on an American cryptocurrency exchange. However, the SEC’s strategies remain unknown. If the crypto regulator decides to extend its power to other countries besides the USA, the case will become complicated again. Especially in the event of filing amicus curiae briefs by France, the United Kingdom, or Australia.

Nevertheless, it’s worth noting that Brad Garlinghouse is dying to face the SEC before the Supreme Court, reports Bloomberg. “We’d love to see the Vegas odds on how this would play out. We’re committed to going the distance,” argues the man who was indicted by Gary Gensler’s team for irregularities.

Is Gary Gensler the Best Crypto Sheriff in the USA?

How has the head of the SEC experienced the successive defeats against Ripple after three years of tough battles against this crypto company? The fact that the American regulator has appealed speaks volumes about this experience.

Moreover, Gary Gensler, who has never stopped receiving criticism from the crypto community and some American lawmakers, wants to leave his mark on the sector. Hadn’t he asked for the SEC budget, currently set at 2.2 billion dollars, to be increased? The goal: to protect investors in cryptocurrencies effectively and clean up this industry which resembles a “Wild West.”

Although his policy is described as very aggressive, Gensler seems proud of the measures taken so far. And he knows how to support remaining unshakeable even before the Senate.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.