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Ripple vs SEC: The Dispute Looks Far From Over! What’s The New Turn In the Lawsuit

4 Jul, 20222 min readRegulation
Ripple vs SEC: The Dispute Looks Far From Over! What’s The New Turn In the Lawsuit

Former Chief Executive Officer Robert Cohen thinks the Securities and Exchange Commission’s (SEC) lawsuit targeting payment firm Ripple is critical, but the conclusion may be less significant. After failing to win the suit over Ripple, the sec is expected to submit a motion for reassessment.

The Ripple vs SEC – The Saga Will Continue For Long?

Robert Cohen is a retired SEC Division of Enforcement Chief. In a conversation, Cohen was asked regarding the implications of the agency’s defeat to Ripple. Cohen highlighted connections between both the agency’s criminal investigation against Blockvest LLC and the continuing Ripple dispute.

On 27th of November, 2018, Justice Curiel of the US District Court for the Southern District of California denied the SEC’s application for a temporary judgment involving the organization in SEC v. Blockvest, LLC.

Although proof of the SEC’s misleading statements in the accused’s online posts, the court dismissed the US agency’s temporary restraining order application.

The above did not survive longer and drew considerable industrial criticism. December 17, 2018, t The SEC petitioned for a biased review of the November decision.

The judge approved, partially, on February 14, 2019, the SEC’s move for reassessment citing fresh information and an objection that the tribunal had evidently neglected. As a result, the SEC brushed aside its initial defeat and proceeded to use most of the federal securities laws to terminate the fraudulent charges.

Ex-SEC Chief of the Division of Enforcement Robert Cohen responds to a question about the implications of the #SEC losing to #RIPPLE @JohnEDeaton1 @DigPerspectives @digitalassetbuy @MarketsMickle @XRPNews_ @WorkingMoneyCH — wEeZiE {X} (@NerdNationUnbox) July 2, 2022

Cohen feels that suppose the SEC gets defeated against Ripple, the level of publicity the dispute has received from the media and the industry would see a negative effect.

Conversely, the Agency has a proven historical pattern of applying the complete power of federal securities regulations to correct errors in district court judgments.

As a result, it is evident that a victory in the SEC vs. Ripple litigation may not be the conclusion of the journey for the transactions powerhouse, Ripple. The agency is inclined to chase the Ripple until the Sec obtains a positive verdict.

At the moment, Ripple’s XRP is trading at $0.31 with a surge of 2.18% over the last 24hrs.

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