According to crypto lawyer John Deaton, an appeal by the Securities and Exchange Commission (SEC) in its case against Ripple Labs does not represent a serious blow to Ripple’s recent judicial triumph.
“An appeal is not even close to a setback,” Deaton replied in response to a Twitter claim. “Don’t underestimate the significance of this victory.”
Deaton’s remarks came after federal district judge Analisa Torres decided earlier this month that XRP, the cryptocurrency that runs Ripple’s payments network, is “not necessarily a security on its face” unless sold to institutions to raise funds.
