Former SEC official John Reed Stark suggested that the Ripple (XRP) decision, which caused great joy in the markets, could be overturned by appeal.
last week US Securities and Exchange Commission (SEC) And Ripple ongoing between unregistered sale of securities in his case Judge Analisa Torres Ripple’s security in certain scenarios can’t be counted had decided. The SEC’s former Chief of Internet Enforcement Agency, after the news caused great rejoicing in the cryptocurrency markets. John Reed Starkmade statements that frightened the crypto money market.
stark 14 July In the post published on wobbly One ground over being seated And most likely to be canceled on appeal claimed it would.
The decision was largely the reason for the emergence of securities laws. “investor protection” with opposite Stating that he had fallen, Stark said, logical in many respects contradictory stated that.
According to the former SEC official, in the decision, to individual investors in sales and in the secondary market in sales, the issuer who that it is not knowing due to of Ripple securities cannot be counted thought adopted.
However, according to Stark, individual investors, like institutional investors, From Ripple request not issuer of the company They hoped to profit from their activities.
In addition, an institutional investor direct from Ripple the sale made in the event of an asset purchase “Securities Sale” however these assets to the stock market to sell in case of a regular sale counting as well illogical was among the points that Stark discussed.
on the other hand internal expenses And remuneration to employees Stark, referring to the point of in the past in the securities market happened many times and what’s done “Securities Sale” that it is precedent decisions noted that there was
After all, securities laws have far less access to information. protect “individual investors” The former official, who stated that he was expelled for meaningless more opportunity to access information wide the one which… “institutional investors” He said he was trying to protect himself.
In line with the points Stark made, the SEC’s to appeal very likely to go high and that it is likely that the decision made will be canceled suggested.