Expert Predicts Ripple and Coinbase Cases to Reach Supreme Court
Former SEC litigator Linda Steward predicts the Ripple case may go to the Supreme Court to determine the classification of crypto assets. Despite a partial victory, Ripple still faces significant fines and an expected appeal from the SEC. Steward also suggests that the Coinbase case could potentially reach the Supreme Court. This comes after her involvement in SEC litigation against FTX, Ripple, and Terra before leaving the agency to join a prominent international law firm.
Key Takeaways
- Ripple case might go to the Supreme Court to determine crypto asset security status.
- SEC considers token sales as securities, but not the underlying asset.
- Ripple still facing fines despite partial victory against SEC in 2023 ruling.
- Supreme Court has ruled against SEC multiple times in recent years.
- Coinbase case also a potential candidate for Supreme Court involvement.
Analysis
Linda Steward's prediction of the Ripple case possibly reaching the Supreme Court holds significant implications for the classification of crypto assets. Ripple's ongoing battle with the SEC and the potential for substantial fines and appeals will impact both companies' financial standing and investor confidence. The broader consequences will extend to the regulatory landscape for token sales and the legal treatment of crypto assets. The potential involvement of the Supreme Court in the Coinbase case adds another layer of uncertainty to the future of crypto regulations. In the short-term, this could lead to increased market volatility and legal expenses for the companies involved, while in the long-term, it may redefine the legal framework for the entire crypto industry.
Did You Know?
- Ripple case might go to the Supreme Court to determine crypto asset security status.
- SEC considers token sales as securities, but not the underlying asset.
- Supreme Court has ruled against SEC multiple times in recent years.