Ripple vs SEC: Pro-XRP Attorney Sheds Light on New Legal Breakthrough
Ripple CLO Stuart Alderoty has highlighted the SEC‘s latest loss in court where a judge ruled that if a buyer doesn’t suffer financial loss, the SEC isnt entitled to disgorgement from the defendant. The ruling could play a big role in Ripples ongoing battle with the agency, with some reports claiming Gary Gensler is seeking to push for up to $2 billion from the blockchain payments company. The US Securities and Exchange Commission is relentless in its pursuit of crypto companies, with its latest target being the decentralized exchange Uniswap, as Crypto News Flash reported. However, the agency keeps losing, and as highlighted by Attorney Stuart Alderoty, its latest loss could become pertinent to how its lawsuit vs. Ripple gets settled. Alderoty, the chief legal officer at Ripple, revealed recently that an appellate court had ruled against the SEC, upholding an earlier ruling against the agency. The case stretches back to last November when the Court for the Second Circuit ruled in the SEC vs. Govil case that «the SEC cant ask for a crippling disgorgement award without first proving that “investors” suffered actual financial harm. In other words, no harm, no foul.» The agency appealed the ruling at the US Court of Appeals for