SEC Can't Move, XRP Is Not A Securities!
JAKARTA - The leading financial adviser from the United States, Mickle, stated that the decision of Judge Analysis Torres regarding XRP's legal status had harmed the case of the Securities and Exchange Commission (SEC) against Ripple.
In its ruling, Judge Torres asserted that XRP is not a security, but can be sold as part of an investment contract. This decision is based on institutional sales that violate federal securities laws.
In a video shared on social media platform X, Mickle explains that Judge Torres' statement about XRP not securities is "Dicta", a legal term that means the opinion is not necessary to resolve the case.
Mickle insists that the SEC's main goal of suing Ripple is to determine that XRP is a security. However, according to him, the SEC cannot appeal the factual determination of Judge Torres who states that XRP is not a security.
"This really undermines the entire SEC case and throws it in the trash. It doesn't make sense to file an appeal now," Mickle said.
Furthermore, Mickle stressed that the SEC case against Ripple was weak due to Judge Torres' decision. He also mentioned that filing an appeal against weak cases is usually unwise, because appeals should be based on a stronger legal basis.
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The SEC previously tried to appeal immediately against Judge Torres' decision. The securities regulator focuses on court decisions regarding the sale of programatics and other distributions from XRP, which are declared not an investment contract. The SEC confirmed that they did not pursue an appeal regarding the decision on XRP as a basic asset.
Although a temporary appeal from the SEC was rejected by the court, some experts speculate that the SEC will file an official appeal after the final verdict.
However, many experts argue that the SEC will not appeal Judge Torres' statement stating that XRP is not a security. This decision has a significant impact on the crypto economy and market, especially the value of XRP, which had increased. The market's reaction to this decision shows high optimism for XRP and possible clearer regulations in the future.