Ripple Vs SEC: Stuart Alderoty Outlines Reasons Why the SEC Will Lose in Summary Judgement
After more than two years in court corridors, Ripple CEO Brad Garlinghouse is confident the case brought forth by the United States Securities and Exchange Commission (SEC) will end this year. As such, Ripple Labs’ Chief Legal Officer Stuart Alderoty has outlined more reasons why he is more confident in a win against the SEC.
Notably, the SEC has recently indicated that all digital assets apart from Bitcoin are unregistered securities. Consequently, the outcome of the ongoing Ripple vs SEC case will be a huge determinant of the decentralized financial ecosystems (DeFi) with operational tokens.
Moreover, most DeFi tokens have a similar economic model to Ripple’s XRP.
Alderoty on Ripple Labs’ Imminent Win Against the SEC
The possibility of the SEC win in the Ripple lawsuit has most crypto traders worried about prolonged bear markets. With the summary judgment expected to happen by the end of this year, Ripple’s CLO Alderoty went to Twitter to comfort the anxious XRP community. Notably, the judge in the Ripple vs SEC lawsuit allowed 10 experts for the blockchain payment giant and five for the regulatory agency.
According to the recent opinion from the court on Ripple and the SEC’s proposed expert opinions, Alderoty is more confident the blockchain tech giant will win.
“On the flip side – our experts explain how Ripple’s contracts clearly differ from those in “Howey,” tax treatment of XRP (not a security), accounting treatment of XRP (not a security), and currency experts on XRP (not a security) are all allowed to stay in,” Alderoty noted.
His sentiments were seconded by Garlinghouse, who indicated that the SEC is bound to have a challenging time.