Ripple (XRP) Legal Battle Set to Escalate to Second Circuit, Predicts Ex-SEC Insider
- At the recent MicroStrategy’s Bitcoin For Corporations event, Neel Maitra, a partner at Dechert and a seasoned former fintech and crypto specialist at the SEC, offered a deep dive into the judicial complexities currently entangling crypto regulations, with a special focus on the ongoing Ripple litigation.
- His insights are particularly noteworthy given his extensive background in both regulatory bodies and private legal practice, including his time at Sullivan & Cromwell.
- During the Legal & Regulatory Panel, Maitra discussed the divergent judicial opinions on how secondary trading of cryptocurrencies like XRP should be legally classified.
Neel Maitra, a former SEC crypto specialist, provides valuable insights into the ongoing Ripple litigation and the complexities of crypto regulations at the Bitcoin For Corporations event.
Will Ripple Vs. SEC ‘Inevitably’ Go To The Second Circuit?
During the Legal & Regulatory Panel, Maitra discussed the divergent judicial opinions on how secondary trading of cryptocurrencies like XRP should be legally classified. He emphasized that this disparity in judicial opinion, especially within the Southern District of New York, illustrates the uncertainty and complexity of current crypto regulations. “It’s funny because three of the judges relevant here were in the Southern District of New York. So in a single federal district the judges can’t agree on how these secondary trading of crypto should be treated,” Maitra observed.
