In an unexpected twist to the SEC v. Ripple lawsuit, Ripple CEO, Brad Garlinghouse, has enlisted high-profile attorney Rahul Mukhi from Cleary Gottlieb Steen & Hamilton LLP.
The new development adds another layer of legal expertise to Garlinghouse’s defense, sparking intrigue and speculation about the upcoming trial.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Rahul Mukhi, of Cleary Gottlieb Steen & Hamilton LLP, has filed his Appearance on Behalf of @bgarlinghouse. Attorney Mukhi’s bio is below.https://t.co/n4K0cVQTHz pic.twitter.com/Tq7AXe2Ssa
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 25, 2023
Attorney Rahul Mukhi Bolsters Garlinghouse’s Defense
Renowned for his work on cases involving international crime, public corruption, and cybercrime, attorney Rahul Mukhi is a formidable addition to Garlinghouse’s legal team. With a specialization in securities, criminal, and regulatory cases, Mukhi’s extensive experience, particularly in jury trials, brings depth and strategic acumen to the defense’s preparations.
Scheduled to commence in Q2 2024, the trial in the SEC v. Ripple case is generating anticipation as both sides gear up to present their arguments. The SEC has accused Garlinghouse and Ripple chairman Chris Larsen of aiding and abetting the alleged distribution of unregistered security through the digital token XRP.
Notably, a previous federal court ruling determined that XRP itself is not a security, setting the stage for a potentially pivotal legal battle.
SEC’s Interlocutory Appeal and Stay Request
Simultaneously, the SEC has sought an interlocutory appeal while also requesting a stay on various proceedings related to the lawsuit. The outcome of these appeals and the court’s decision on the stay request remain pending.
With the addition of Attorney Rahul Mukhi to Brad Garlinghouse’s defense team, the SEC v. Ripple case takes on a heightened sense of anticipation. As the trial approaches, the legal proceedings will likely capture widespread attention within the cryptocurrency community and beyond.
The significance of this latest development, combined with the SEC’s pursuit of appeal, sets the stage for a legal showdown that could shape the future of cryptocurrency regulation.