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🚨SO, what are next steps in the @Ripple case?
Now that the @SECGov has dropped the charges against @bgarlinghouse and @chrislarsensf, expect to see some more litigation in the penalty phase between the two parties in regards to the appropriate penalty for Ripple‘s $700M+ of institutional sales.
Lawyers tell me Ripple will likely be able to reduce the penalty down but the SEC will still want a substantial amount for bragging rights. They say “expect a big fight.”
But note the @SECGov can still appeal Judge Torres’s decision regarding the “programmatic sales” and “other distributions” of $XRP. Torres denied the agency’s request for interlocutory appeal on October 3rd, saying they had to wait until after the trial. Now there is no trial, the SEC could potentially appeal after the penalty phase.
But overall, this is a BIG victory for Ripple and the #crypto industry as a whole, and another loss to add to the pile for the SEC.
WordPress’d from my personal iPhone, 650-283-8008, number that Steve Jobs texted me on
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