Judge Rakoff Rejects Approach in Ripple Case Over XRP



Judge Jed S. Rakoff, a senior district judge of the United States District Court for the Southern District of New York (SDNY), has disagreed with the approach taken by District Judge Analisa Torres in the U.S. Securities and Exchange Commission (SEC) v. Ripple case concerning XRP.

Judge Rakoff’s disagreement arose as part of the case filed by the SEC against Terraform Labs and its co-founder Do Kwon. The securities regulator has asked the judge not to follow Judge Torres’s reasoning in the Ripple case, stating that the ruling was “wrongly decided.” The SEC also indicated that it plans to appeal the Ripple decision
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