Stuart Alderoty, general counsel at Ripple Labs, told CoinDesk TV that the company felt “confident” and thought it could be a “confidence”. The “beginning of the end” of the case, which began in 2020, is nearing its end. If a federal judge determines that Ripple does not violate federal securities laws,
“There are no allegations of fraud in this case. There were no allegations of misrepresentation. There are no allegations of market manipulation,” Alderoty said during an appearance on CoinDesk TV’s “First Mover”. “It is a really technical issue and we believe it is an issue that the judges would like to resolve. with the law”
Both the SEC and Ripple previously filed with the U.S. District Court for the Southern District of New York asking to avoid a full trial.
In December 2020, the SEC sued Ripple Labs for selling XRP, a cryptocurrency linked to the company. This is because it is an unregistered securities transaction, and the SEC accuses the company of selling XRP tokens while leaving investors convinced that they will receive a huge return on the company’s profits.
Alderoty, who has been working with Ripple for almost four years. reiterating his stance that “We do not make any promises to XRP holders and do not make any after-sales guarantees on behalf of Ripple to investors.”
“The SEC is trying to create new laws,” Alderoty said. “They are engaging in litigation behavior to achieve the desired outcome rather than being loyal to the law.”
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