Fox Business Reporter Questions Ripple Judge Ruling

Fox Business Senior Correspondent Charles Gasparino suggested that the recent positive ruling in favor of Ripple against the SEC might not hold up in higher courts. Gasparino pointed out a different ruling in the Coinbase vs. SEC case, signaling potential trouble for Ripple and the cryptocurrency industry in general.

Gasparino raised doubts about the reliability of Judge Analisa Torres’ decision in the Ripple case, noting that other federal judges have shown skepticism towards it. He highlighted concerns about the legal analysis used in the ruling and hinted at the likelihood of it being challenged.

The legal community got involved after a different ruling in the Coinbase case, adding weight to the possible reversal of the Ripple ruling. The judge in the Coinbase case dismissed arguments similar to those used in the Ripple case, suggesting a trend towards scrutinizing Torres’ decision.

The SEC’s strong stance on cryptocurrencies like Ethereum raises concerns that Torres’ ruling might face an uphill battle. The determination of SEC Chair Gary Gensler to regulate cryptocurrencies suggests that the Ripple ruling may not be safe from being overturned.

Not Everyone Agrees

While Gasparino and legal experts express doubts about the Ripple ruling, some in the XRP community disagree. Some XRP supporters believe that the criticisms of Judge Torres’ decision are unwarranted and oversimplified. They argue that the nuances of the legal process are not being fully considered.

Response from XRP Community

Lawyers and enthusiasts in the XRP community rebutted Gasparino’s claims, questioning the basis for his doubts. They highlighted the need for more precise references to support the skepticism towards Judge Torres’ ruling. As the legal battle continues, the fate of Ripple and its classification as a security remain uncertain.