As the legal battle between Ripple, the San Francisco-based cross-border payment firm, and the United States Securities and Exchange Commission (SEC) approaches the end, XRP community members are becoming more inquisitive about what could happen if Ripple is declared the winner of the long-standing lawsuit.
In a tweet a couple of hours ago, a supposed XRP community member tagged a number of prominent legal experts in a question regarding the progress of the ongoing Ripple-SEC lawsuit.
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In the tweet, the user with a Twitter handle @scaruso123 asked whether Judge Analisa Torres would instantly grant the blockchain payment firm the approval to operate in the United States if it wins the case.
@scaruso123 asked, “If Ripple gets outright victory in lawsuit, & sec appeals to an appellate court, what happens in the interim? Does Ripple have the green light to operate in the U.S. until the final decision is made?”
In response to the question, James K. Filan, a defense lawyer and former federal prosecutor, said in such a scenario, the SEC may ask the Judge not to enforce the ruling until its appeal to the Second Circuit ends.
Read Also: XRP Lawsuit: Judge Grants Ripple Recent Request But Partly Denies the SEC Motion
According to Filan, if Judge Torres grants the request and stays the judgment of a Ripple victory would result in a classic legal battle between the two parties. He also said there is no certainty that the court will grant such a request.
James K. Filan responded, “The SEC will ask to stay the judgment pending it’s appeal to the Second Circuit. That means it will ask the court not to enforce the judgment until the appeal is over. That would be an epic battle between the parties and whether the court agrees to that remains to be seen.”
The SEC will ask to stay the judgment pending it’s appeal to the Second Circuit. That means it will ask the court not to enforce the judgment until the appeal is over. That would be an epic battle between the parties and whether the court agrees to that remains to be seen.
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 21, 2022
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