TechFlow news, October 16 — According to Decrypt, Ripple Labs Chief Legal Officer Stuart Alderoty said in an interview that the U.S. Securities and Exchange Commission’s (SEC) appeal in the XRP case will be "counterproductive" and could ultimately benefit the broader cryptocurrency industry. Alderoty emphasized that he is even more confident about Ripple's case at the Second Circuit Court of Appeals.
Alderoty pointed out that the SEC's move could lead to another high-profile defeat. He stated, "I feel good about our case in the Southern District of New York, and I feel even better about our case in the Second Circuit." Alderoty believes SEC Chair Gary Gensler hopes to maintain a 'cloud of uncertainty' hanging over the industry through this appeal.
Previous report, the U.S. SEC filed an appeal against the ruling in the Ripple case, arguing it conflicts with Supreme Court precedent.
