Ripple Vs. SEC: Bill Morgan Weighs in On likelihood of Ripple Winning the Case in Supreme Court

James A. Murphy, a prominent lawyer and founder of Metalawman, recently took to Twitter to express his opinion on the SEC’s threatened lawsuit against Coinbase. He suggests that the SEC’s case might be on shaky ground, which could ultimately lead to a Ripple victory in their ongoing legal battle. The basis of his argument? None other than statements made by SEC Chairman Gary Gensler himself.

Gensler’s Testimony

In a series of tweets, Murphy highlighted a critical moment in Gensler’s testimony to Congress on May 6, 2021. At that time, Gensler stated that the SEC does not have the authority to regulate crypto exchanges. This admission, Murphy argues, is a significant issue for the SEC’s case against Coinbase and could prove to be their undoing.

Murphy further explained that the authority to regulate crypto exchanges is a “Major Question” that can only be addressed by Congress. The SEC cannot simply will itself into having the legal authority to regulate the space. In a recent interview with Paul Barron, Murphy reiterated this point, emphasizing the SEC’s lack of jurisdiction in the crypto space.

Ripple’s Potential Supreme Court Win

Bill Morgan, in a reply to Murphy’s tweets, inquired about the likelihood of Ripple winning its case if it went to the Supreme Court, given the SEC’s lack of authority. Murphy believes that it is highly likely that Ripple could emerge victorious due to the Major Questions Doctrine and Gensler’s previous statements.

The SEC’s Mysterious Persistence: Why Not Settle?

Morgan also asked the burning question: Why hasn’t the SEC settled the Ripple case, and why risk an adverse binding decision on such a pivotal legal issue? The answer remains elusive, but it raises even more questions about the SEC’s ongoing efforts to regulate the crypto industry.

Now the real question for you: As the legal drama unfolds, will Ripple and Coinbase emerge victorious, or will the SEC find a way to regain its footing? And, most importantly, what does this mean for the future of crypto regulation? Only time will tell, but one thing is for sure: the stakes have never been higher.