Former Justice Department Attorney Evaluates SEC’s Possibility to Appeal in Ripple Case!

Crypto venture investor and former Justice Department prosecutor Katie Haun, of Ripple Securities and Exchange Commission (SEC) He shared his views on the latest court decision in his legal battle with

Ripple Case Likely to Appeal, According to Katie Haun

Haun expressed that he believes the court’s decision to classify XRP as a security is unlikely to be appealed.

In a tweet, Haun described the court’s decision as a positive outcome for the industry.

Some non-legal advice musings on the Ripple decision, including two main takeaways:

1/ The Court drew a reasonable line and overall it’s a good outcome for the industry. For other suits w/ the SEC, we believe the Supreme Court’s “major questions doctrine” will play a larger…

— Kathryn Haun (@katie_haun) July 15, 2023

Haun, who previously worked with Chris Dixon on a16z’s crypto funds, founded Haun Ventures in 2022 and has reportedly raised over $1 billion in assets.

While appeals against the decision are possible, Haun expressed skepticism about an immediate appeal, citing the need for the SEC to ask the court to split the decision and the agency’s potential indifference to seeking legal clarity.

However, market participants underlined that the court’s decision could have positive implications for other crypto firms involved in ongoing legal proceedings.

On the other hand, JPMorgan analysts led by Kenneth Worthington stated that the decision could benefit Coinbase in its litigation with the SEC.

They believe Coinbase is well positioned to benefit from increased trust and regulatory clarity due to its leading position in the market and respected reputation in the industry.

*Not investment advice.