Ripple Labs' Chief Legal Officer, Stuart Alderoty, believes that the Securities and Exchange Commission's (SEC) appeal against a federal judge's decision involving XRP will backfire on the agency. Ripple is confident in their case in the Second Circuit and believes that the appeal will fail, as most rulings are affirmed in that circuit. The determination of the case could set a precedent for how securities laws should be applied to token issuers within the region's financial hub. The SEC had alleged that Ripple raised $1.3 billion through unregistered securities offerings and ordered the company to pay a $125 million fine. Ripple has filed a cross-appeal to ensure all arguments are considered. Alderoty believes that SEC Chair Gary Gensler wants to keep uncertainty over the industry with the appeal. The Second Circuit's ruling could prove Judge Torres right or wrong in her ruling on XRP. It is expected that a decision will be reached by early 2026.



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