Crypto-Focused Venture Capital Fund CEO on SEC’s Battle with Ripple
Katie Haun, CEO of Haun Ventures, a crypto-focused venture capital fund, would be surprised if the United States Securities and Exchange Commission (SEC) immediately appeals its partial defeat in the battle against Ripple. According to Haun, the SEC currently benefits from the lack of legal clarity surrounding the status of XRP as a security.
On July 13, Judge Analisa Torres granted a partial summary judgment in favor of Ripple Labs. However, Haun believes that the SEC will likely stay quiet as it benefits from the “current confusion” and that losing an appeal could jeopardize its future enforcement actions.
“Anything is possible, but an immediate appeal seems unlikely both because the agency would have to ask the court to split this decision from the portion going to trial and because I’m skeptical the SEC actually wants legal clarity,” Haun said on Twitter.
Ripple Labs CEO and U.S. Lawyer’s Opinion on SEC Appeal
Haun is not the only one to share the view that it may take years before the SEC lodges an appeal against Ripple. On July 15, Ripple Labs CEO Brad Garlinghouse also believes it may take years for the SEC to appeal Judge Torres’ decision that XRP is not a security.
The same day, U.S. lawyer and Ripple commentator Jeremy Hogan shared his opinion in a YouTube video, saying he believes the SEC will appeal after the trial between SEC and Ripple ends in early 2024.
The SEC is currently involved in several crypto-related cases, including lawsuits against crypto exchanges Binance and Coinbase. Some experts think the Ripple case ruling, although not legally binding, could influence the outcome of these cases.
Crypto Industry Calls for Clarity in Light of Recent Ripple Court Ruling
Many crypto commentators and lawmakers have called for Congress to take action and provide legal clarity to the crypto space in light of the recent Ripple court ruling.
Brian Quintenz, the head of policy for crypto venture capital fund a16z and former commissioner of the Commodity Futures Trading Commission, stated that the ruling “only results in more uncertainty for entrepreneurs and builders.”
U.S. Senator Cynthia Lummis echoed the sentiment, saying the ruling emphasizes the pressing need for Congress to create a clear and comprehensive regulatory framework for the crypto industry.
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